Zacks: Brokerages Expect Carrizo Oil & Gas Inc (CRZO) Will Announce Earnings of $0.81 Per Share

Analysts expect Carrizo Oil & Gas Inc (NASDAQ:CRZO) to announce earnings per share (EPS) of $0.81 for the current quarter, Zacks reports. Nine analysts have issued estimates for Carrizo Oil & Gas’ earnings, with the lowest EPS estimate coming in at $0.73 and the highest estimate coming in at $0.97. Carrizo Oil & Gas reported earnings of $0.33 per share during the same quarter last year, which suggests a positive year over year growth rate of 145.5%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 6th.

On average, analysts expect that Carrizo Oil & Gas will report full-year earnings of $2.99 per share for the current financial year, with EPS estimates ranging from $2.85 to $3.26. For the next fiscal year, analysts anticipate that the business will post earnings of $4.19 per share, with EPS estimates ranging from $3.16 to $4.81. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Carrizo Oil & Gas.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings data on Monday, August 6th. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.12. Carrizo Oil & Gas had a return on equity of 52.59% and a net margin of 5.84%. The business had revenue of $264.00 million for the quarter, compared to analysts’ expectations of $230.08 million. During the same quarter last year, the firm earned $0.30 earnings per share. The business’s revenue was up 58.6% on a year-over-year basis.

Several research firms have recently issued reports on CRZO. Stifel Nicolaus raised their price objective on Carrizo Oil & Gas from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, July 16th. Zacks Investment Research cut Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, August 17th. BidaskClub cut Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. JPMorgan Chase & Co. raised their price objective on Carrizo Oil & Gas from $26.00 to $29.00 and gave the stock a “$28.42” rating in a report on Monday, July 23rd. Finally, Jefferies Financial Group restated a “hold” rating and set a $27.00 price objective on shares of Carrizo Oil & Gas in a report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $29.58.

In related news, CEO S P. Iv Johnson sold 8,000 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $22.55, for a total value of $180,400.00. Following the transaction, the chief executive officer now directly owns 180,276 shares of the company’s stock, valued at approximately $4,065,223.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Bradley Fisher sold 7,500 shares of the stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $25.01, for a total value of $187,575.00. Following the completion of the transaction, the chief operating officer now directly owns 157,436 shares in the company, valued at $3,937,474.36. The disclosure for this sale can be found here. Insiders sold a total of 31,500 shares of company stock worth $777,975 over the last ninety days. Corporate insiders own 5.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CRZO. Swiss National Bank raised its position in Carrizo Oil & Gas by 2.2% in the first quarter. Swiss National Bank now owns 141,739 shares of the oil and gas producer’s stock valued at $2,268,000 after purchasing an additional 3,000 shares during the period. Schwab Charles Investment Management Inc. raised its position in Carrizo Oil & Gas by 4.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 385,089 shares of the oil and gas producer’s stock valued at $6,162,000 after purchasing an additional 16,316 shares during the period. BlackRock Inc. raised its position in Carrizo Oil & Gas by 0.8% in the first quarter. BlackRock Inc. now owns 10,144,045 shares of the oil and gas producer’s stock valued at $162,304,000 after purchasing an additional 81,465 shares during the period. Dimensional Fund Advisors LP raised its position in Carrizo Oil & Gas by 105.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,308,757 shares of the oil and gas producer’s stock valued at $52,940,000 after purchasing an additional 1,694,935 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in Carrizo Oil & Gas by 15.7% in the first quarter. BNP Paribas Arbitrage SA now owns 87,511 shares of the oil and gas producer’s stock valued at $1,400,000 after purchasing an additional 11,843 shares during the period.

Shares of CRZO stock traded up $0.34 during mid-day trading on Friday, hitting $22.08. 1,404,673 shares of the company’s stock were exchanged, compared to its average volume of 2,939,034. Carrizo Oil & Gas has a fifty-two week low of $13.49 and a fifty-two week high of $31.57. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 3.52. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 15.44 and a beta of 2.18.

Carrizo Oil & Gas Company Profile

Carrizo Oil & Gas, Inc, together with its subsidiaries, engages in the exploration, development, and production of crude oil, natural gas liquids, and gas from resource plays primarily in the United States. The company holds interests in oil and gas plays, including Eagle Ford Shale in South Texas; and the Delaware Basin in West Texas.

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Earnings History and Estimates for Carrizo Oil & Gas (NASDAQ:CRZO)

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