JPMorgan Chase & Co. Downgrades Carrizo Oil & Gas (CRZO) to Underweight

Carrizo Oil & Gas (NASDAQ:CRZO) was downgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Friday, The Fly reports.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group upgraded shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Monday, October 15th. BidaskClub upgraded shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Williams Capital set a $41.00 price target on shares of Carrizo Oil & Gas and gave the company a “buy” rating in a research report on Wednesday, August 15th. Zacks Investment Research upgraded shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Thursday, August 9th. Finally, KLR Group reiterated a “buy” rating and set a $35.00 price target on shares of Carrizo Oil & Gas in a research report on Monday, August 20th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $29.44.

CRZO stock opened at $16.36 on Friday. Carrizo Oil & Gas has a 12-month low of $13.49 and a 12-month high of $31.57. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market cap of $1.60 billion, a PE ratio of 11.44 and a beta of 2.31.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.15. Carrizo Oil & Gas had a net margin of 12.23% and a return on equity of 56.06%. The company had revenue of $303.40 million during the quarter, compared to the consensus estimate of $265.34 million. During the same period last year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 67.3% on a year-over-year basis. On average, analysts forecast that Carrizo Oil & Gas will post 3.11 earnings per share for the current year.

In related news, COO John Bradley Fisher sold 7,500 shares of Carrizo Oil & Gas stock in a transaction that occurred 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 in the company, valued at approximately $3,937,474.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO S P. Iv Johnson sold 8,000 shares of Carrizo Oil & Gas stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $17.60, for a total value of $140,800.00. Following the transaction, the chief executive officer now owns 155,076 shares of the company’s stock, valued at $2,729,337.60. The disclosure for this sale can be found here. Insiders have sold a total of 31,500 shares of company stock valued at $697,495 over the last 90 days. Insiders own 5.40% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew 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 period. Zurcher Kantonalbank Zurich Cantonalbank grew 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 period. CIBC Asset Management Inc purchased a new stake in Carrizo Oil & Gas in the 2nd quarter worth approximately $278,000. Brown Advisory Inc. purchased a new stake in Carrizo Oil & Gas in the 2nd quarter worth approximately $301,000. Finally, Cpwm LLC purchased a new stake in Carrizo Oil & Gas in the 3rd quarter worth approximately $277,000.

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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The Fly

Analyst Recommendations for Carrizo Oil & Gas (NASDAQ:CRZO)

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