Carrizo Oil & Gas Inc (NASDAQ:CRZO) – Investment analysts at Seaport Global Securities lifted their FY2017 earnings per share (EPS) estimates for shares of Carrizo Oil & Gas in a note issued to investors on Tuesday, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now expects that the oil and gas producer will post earnings of $1.40 per share for the year, up from their previous forecast of $1.01. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Carrizo Oil & Gas’ Q4 2017 earnings at $0.54 EPS, Q1 2018 earnings at $0.52 EPS, Q2 2018 earnings at $0.66 EPS, Q3 2018 earnings at $0.69 EPS, Q4 2018 earnings at $0.68 EPS and FY2018 earnings at $2.54 EPS.
Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.09. The company had revenue of $181.28 million for the quarter, compared to analysts’ expectations of $177.97 million. Carrizo Oil & Gas had a return on equity of 58.37% and a net margin of 16.08%. The business’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share.
A number of other research firms have also commented on CRZO. Jefferies Group set a $21.00 price objective on shares of Carrizo Oil & Gas and gave the company a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday. SunTrust Banks set a $20.00 price objective on shares of Carrizo Oil & Gas and gave the company a “buy” rating in a research note on Monday, October 16th. KeyCorp reiterated a “buy” rating on shares of Carrizo Oil & Gas in a research note on Friday, December 15th. Finally, Northland Securities set a $35.00 price objective on shares of Carrizo Oil & Gas and gave the company a “buy” rating in a research note on Monday, December 11th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $29.50.
Carrizo Oil & Gas (NASDAQ:CRZO) traded down $0.24 on Friday, hitting $24.33. The stock had a trading volume of 3,084,998 shares, compared to its average volume of 2,760,000. Carrizo Oil & Gas has a 52 week low of $11.10 and a 52 week high of $37.47. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $1,980.00, a PE ratio of 15.70 and a beta of 2.18.
A number of institutional investors have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan boosted its stake in Carrizo Oil & Gas by 4.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,620 shares of the oil and gas producer’s stock worth $255,000 after purchasing an additional 630 shares during the period. Sheaff Brock Investment Advisors LLC boosted its stake in Carrizo Oil & Gas by 2.9% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 33,911 shares of the oil and gas producer’s stock worth $591,000 after purchasing an additional 950 shares during the period. Van ECK Associates Corp boosted its stake in Carrizo Oil & Gas by 15.0% in the 2nd quarter. Van ECK Associates Corp now owns 9,028 shares of the oil and gas producer’s stock worth $157,000 after purchasing an additional 1,177 shares during the period. Eagle Asset Management Inc. boosted its stake in Carrizo Oil & Gas by 0.9% in the 2nd quarter. Eagle Asset Management Inc. now owns 143,540 shares of the oil and gas producer’s stock worth $2,500,000 after purchasing an additional 1,320 shares during the period. Finally, ETRADE Capital Management LLC boosted its stake in Carrizo Oil & Gas by 7.4% in the 2nd quarter. ETRADE Capital Management LLC now owns 19,253 shares of the oil and gas producer’s stock worth $335,000 after purchasing an additional 1,332 shares during the period. 99.96% of the stock is owned by hedge funds and other institutional investors.
In related news, insider S P. Iv Johnson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $18.69, for a total value of $149,520.00. Following the completion of the transaction, the insider now owns 231,194 shares of the company’s stock, valued at approximately $4,321,015.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.00% of the company’s stock.
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About Carrizo Oil & Gas
Carrizo Oil & Gas, Inc is an energy company. The Company is engaged in the exploration, development and production of oil and gas from resource plays located in the United States. Its operations are focused in proven, producing oil and gas plays in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado, and the Marcellus Shale in Pennsylvania.
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