Carrizo Oil & Gas (NASDAQ:CRZO) announced its quarterly earnings data on Monday. The oil and gas producer reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.15, Briefing.com reports. The firm had revenue of $303.40 million for the quarter, compared to the consensus estimate of $265.34 million. Carrizo Oil & Gas had a net margin of 5.84% and a return on equity of 52.59%. The company’s revenue was up 67.3% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS.
Shares of NASDAQ:CRZO traded up $1.22 on Wednesday, reaching $20.21. The company’s stock had a trading volume of 1,059,112 shares, compared to its average volume of 2,030,890. Carrizo Oil & Gas has a 52-week low of $13.49 and a 52-week high of $31.57. The stock has a market capitalization of $1.45 billion, a P/E ratio of 14.13 and a beta of 2.28. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 3.52.
CRZO has been the topic of several recent analyst reports. BidaskClub upgraded shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Jefferies Financial Group upgraded shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Monday, October 15th. Williams Capital reaffirmed a “buy” rating and set a $41.00 target price on shares of Carrizo Oil & Gas in a research note on Monday, July 23rd. Oppenheimer assumed coverage on shares of Carrizo Oil & Gas in a research note on Wednesday, October 3rd. They set a “market perform” rating for the company. Finally, ValuEngine cut shares of Carrizo Oil & Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $29.78.
In other Carrizo Oil & Gas news, CEO S P. Iv Johnson sold 8,000 shares of Carrizo Oil & Gas stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $22.55, for a total value of $180,400.00. Following the completion of 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 accessible through this link. Also, COO John Bradley Fisher sold 7,500 shares of Carrizo Oil & Gas stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $25.01, for a total transaction of $187,575.00. Following the completion of the transaction, the chief operating officer now directly owns 157,436 shares of the company’s stock, 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 valued at $737,095 over the last three months. Corporate insiders own 5.40% of the company’s stock.
Large investors have recently modified their holdings of the business. Guggenheim Capital LLC boosted its stake in shares of Carrizo Oil & Gas by 36.5% during the 1st quarter. Guggenheim Capital LLC now owns 102,351 shares of the oil and gas producer’s stock worth $1,637,000 after purchasing an additional 27,384 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Carrizo Oil & Gas by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,162,884 shares of the oil and gas producer’s stock worth $18,606,000 after purchasing an additional 24,348 shares during the period. Fisher Asset Management LLC purchased a new position in shares of Carrizo Oil & Gas during the 2nd quarter worth about $3,980,000. Berkshire Asset Management LLC PA purchased a new position in shares of Carrizo Oil & Gas during the 2nd quarter worth about $252,000. Finally, Creative Planning purchased a new position in shares of Carrizo Oil & Gas during the 2nd quarter worth about $222,000.
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About Carrizo Oil & Gas
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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