Equities Analysts Offer Predictions for Carrizo Oil & Gas Inc’s FY2018 Earnings (CRZO)

Carrizo Oil & Gas Inc (NASDAQ:CRZO) – Investment analysts at Seaport Global Securities boosted their FY2018 earnings per share estimates for shares of Carrizo Oil & Gas in a report released on Tuesday, November 6th. Seaport Global Securities analyst M. Kelly now expects that the oil and gas producer will post earnings per share of $3.06 for the year, up from their prior estimate of $2.91. Seaport Global Securities also issued estimates for Carrizo Oil & Gas’ Q4 2018 earnings at $0.82 EPS.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its earnings results on Monday, November 5th. The oil and gas producer reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.15. The company had revenue of $303.40 million during the quarter, compared to analyst estimates of $265.34 million. Carrizo Oil & Gas had a return on equity of 56.06% and a net margin of 12.23%. Carrizo Oil & Gas’s revenue was up 67.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share.

A number of other research firms have also weighed in on CRZO. Zacks Investment Research lowered Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Jefferies Financial Group restated a “hold” rating and set a $27.00 target price on shares of Carrizo Oil & Gas in a report on Wednesday, July 18th. Williams Capital reiterated a “buy” rating and set a $41.00 price objective on shares of Carrizo Oil & Gas in a report on Monday, July 23rd. JPMorgan Chase & Co. increased their price objective on Carrizo Oil & Gas from $26.00 to $29.00 and gave the company a “$28.42” rating in a report on Monday, July 23rd. Finally, Stifel Nicolaus increased their price objective on Carrizo Oil & Gas from $34.00 to $36.00 and gave the company a “buy” rating in a report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $29.71.

Carrizo Oil & Gas stock opened at $19.03 on Thursday. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 1.84. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 13.31 and a beta of 2.28. Carrizo Oil & Gas has a twelve month low of $13.49 and a twelve month high of $31.57.

In related news, CEO S P. Iv Johnson sold 8,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 180,276 shares in the company, valued at approximately $4,065,223.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Bradley Fisher sold 7,500 shares of the firm’s 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 owns 157,436 shares of the company’s stock, valued at approximately $3,937,474.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,500 shares of company stock valued at $737,095. Company insiders own 5.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of CRZO. PNC Financial Services Group Inc. raised its stake 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 acquiring an additional 2,680 shares during the last quarter. Advisors Asset Management Inc. raised its stake 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 acquiring an additional 1,814,895 shares during the last quarter. Creative Planning purchased a new position in Carrizo Oil & Gas in the 2nd quarter worth $222,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Carrizo Oil & Gas by 144.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the oil and gas producer’s stock worth $230,000 after acquiring an additional 5,397 shares during the last quarter. Finally, Berkshire Asset Management LLC PA purchased a new position in Carrizo Oil & Gas in the 2nd quarter worth $252,000.

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

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