MKM Partners assumed coverage on shares of Carrizo Oil & Gas (NASDAQ:CRZO) in a research note released on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $27.00 target price on the oil and gas producer’s stock.
Several other brokerages have also recently issued reports on CRZO. Williams Capital set a $38.00 price target on Carrizo Oil & Gas and gave the company a buy rating in a research report on Tuesday, November 6th. BidaskClub cut Carrizo Oil & Gas from a hold rating to a sell rating in a research report on Tuesday, August 21st. Zacks Investment Research upgraded Carrizo Oil & Gas from a hold rating to a buy rating and set a $27.00 price target on the stock in a research report on Thursday, August 9th. Stifel Nicolaus boosted their price target on Carrizo Oil & Gas from $36.00 to $38.00 and gave the company a buy rating in a research report on Tuesday, August 7th. Finally, ValuEngine cut Carrizo Oil & Gas from a sell rating to a strong sell rating in a research report on Thursday, November 1st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $29.06.
Shares of CRZO stock opened at $15.90 on Wednesday. The stock has a market capitalization of $1.50 billion, a P/E ratio of 11.12 and a beta of 2.31. Carrizo Oil & Gas has a 52-week low of $13.49 and a 52-week high of $31.57. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.27 and a current ratio of 0.27.
Carrizo Oil & Gas (NASDAQ:CRZO) last issued 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 Thomson Reuters’ consensus estimate of $0.79 by $0.15. The firm had revenue of $303.40 million for the quarter, compared to analysts’ expectations of $265.34 million. Carrizo Oil & Gas had a return on equity of 56.06% and a net margin of 12.23%. The firm’s revenue for the quarter was up 67.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. As a group, equities research analysts forecast that Carrizo Oil & Gas will post 3.11 EPS for the current fiscal year.
In other news, COO John Bradley Fisher sold 7,500 shares of the business’s 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 sale, the chief operating officer now owns 157,436 shares of the company’s stock, valued at approximately $3,937,474.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider S P. Iv Johnson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $23.82, for a total value of $190,560.00. Following the sale, the insider now directly owns 171,076 shares in the company, valued at approximately $4,075,030.32. The disclosure for this sale can be found here. Insiders have sold a total of 31,500 shares of company stock worth $697,495 in the last three months. Corporate insiders own 5.40% of the company’s stock.
Several large investors have recently made changes to their positions in CRZO. US Bancorp DE raised its position in shares of Carrizo Oil & Gas by 11.3% during the 2nd quarter. US Bancorp DE now owns 57,858 shares of the oil and gas producer’s stock worth $1,610,000 after purchasing an additional 5,853 shares during the last quarter. Boston Partners acquired a new position in shares of Carrizo Oil & Gas during the 2nd quarter worth approximately $1,029,000. Tanaka Capital Management Inc. acquired a new position in shares of Carrizo Oil & Gas during the 2nd quarter worth approximately $838,000. Engineers Gate Manager LP acquired a new position in shares of Carrizo Oil & Gas during the 2nd quarter worth approximately $3,693,000. Finally, LSV Asset Management raised its position in shares of Carrizo Oil & Gas by 18.8% during the 2nd quarter. LSV Asset Management now owns 4,082,450 shares of the oil and gas producer’s stock worth $113,696,000 after purchasing an additional 645,350 shares during the last quarter.
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.
Further Reading: Market Capitalization
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