Jefferies Financial Group upgraded shares of Carrizo Oil & Gas (NASDAQ:CRZO) from a hold rating to a buy rating in a report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $28.00 price objective on the oil and gas producer’s stock. Jefferies Financial Group also issued estimates for Carrizo Oil & Gas’ Q3 2018 earnings at $0.80 EPS, Q4 2018 earnings at $0.79 EPS, FY2018 earnings at $2.88 EPS, Q1 2019 earnings at $0.93 EPS, Q2 2019 earnings at $1.05 EPS, Q3 2019 earnings at $0.93 EPS, Q4 2019 earnings at $1.05 EPS, FY2019 earnings at $3.96 EPS, Q1 2020 earnings at $0.99 EPS, Q2 2020 earnings at $1.10 EPS, Q3 2020 earnings at $1.11 EPS and FY2020 earnings at $4.34 EPS.
CRZO has been the subject of several other research reports. Williams Capital reissued a buy rating and set a $41.00 price objective on shares of Carrizo Oil & Gas in a report on Monday, July 23rd. Johnson Rice raised shares of Carrizo Oil & Gas from an accumulate rating to a buy rating in a report on Wednesday, August 8th. ValuEngine downgraded shares of Carrizo Oil & Gas from a hold rating to a sell rating in a report on Tuesday, October 2nd. SunTrust Banks restated a buy rating and set a $35.00 target price on shares of Carrizo Oil & Gas in a research report on Monday, August 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Carrizo Oil & Gas from $26.00 to $29.00 and gave the company a $28.42 rating in a research report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $29.63.
CRZO opened at $21.70 on Monday. Carrizo Oil & Gas has a 52 week low of $13.49 and a 52 week high of $31.57. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 15.17 and a beta of 2.18. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 3.52.
Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings data on Monday, August 6th. The oil and gas producer reported $0.79 EPS for the quarter, beating the consensus estimate of $0.67 by $0.12. Carrizo Oil & Gas had a net margin of 5.84% and a return on equity of 52.59%. The business had revenue of $264.00 million during the quarter, compared to the consensus estimate of $230.08 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue was up 58.6% on a year-over-year basis. On average, sell-side analysts forecast that Carrizo Oil & Gas will post 3 EPS for the current fiscal year.
In related news, COO John Bradley Fisher sold 7,500 shares of the stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $25.01, for a total value of $187,575.00. Following the sale, the chief operating officer now directly owns 157,436 shares of the company’s stock, valued at approximately $3,937,474.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO S P. Iv Johnson sold 8,000 shares of the stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $22.55, for a total transaction of $180,400.00. Following the completion of the sale, the chief executive officer now directly owns 180,276 shares in the company, valued at $4,065,223.80. The disclosure for this sale can be found here. Insiders have sold a total of 31,500 shares of company stock worth $737,095 over the last 90 days. Corporate insiders own 5.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position in Carrizo Oil & Gas by 91.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,625 shares of the oil and gas producer’s stock worth $156,000 after purchasing an additional 2,680 shares during the period. Advisors Asset Management Inc. raised its position in Carrizo Oil & Gas by 26,788.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,821,670 shares of the oil and gas producer’s stock worth $183,000 after purchasing an additional 1,814,895 shares during the period. Creative Planning purchased a new stake in Carrizo Oil & Gas in the 2nd quarter worth about $222,000. Berkshire Asset Management LLC PA purchased a new stake in Carrizo Oil & Gas in the 2nd quarter worth about $252,000. Finally, CIBC Asset Management Inc purchased a new stake in Carrizo Oil & Gas in the 2nd quarter worth about $278,000.
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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