Jefferies Financial Group Downgrades Carrizo Oil & Gas (NASDAQ:CRZO) to Hold

Jefferies Financial Group cut shares of Carrizo Oil & Gas (NASDAQ:CRZO) from a buy rating to a hold rating in a research note released on Monday morning, Briefing.com Automated Import reports. Jefferies Financial Group also issued estimates for Carrizo Oil & Gas’ Q2 2019 earnings at $0.62 EPS, Q3 2019 earnings at $0.60 EPS, Q4 2019 earnings at $0.56 EPS, FY2019 earnings at $2.25 EPS, Q1 2020 earnings at $0.39 EPS, Q2 2020 earnings at $0.50 EPS, Q3 2020 earnings at $0.55 EPS, Q4 2020 earnings at $0.57 EPS, FY2020 earnings at $2.01 EPS, Q1 2021 earnings at $0.41 EPS, Q2 2021 earnings at $0.52 EPS and FY2021 earnings at $2.02 EPS.

Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Xencor from a sell rating to a strong sell rating in a report on Tuesday, June 11th. Zacks Investment Research cut shares of Hess Midstream Partners from a hold rating to a sell rating in a report on Tuesday, May 14th. Stephens began coverage on shares of Carrizo Oil & Gas in a report on Thursday, March 28th. They issued an equal weight rating and a $15.00 price objective for the company. Wells Fargo & Co cut shares of Occidental Petroleum from an outperform rating to a market perform rating in a report on Monday, May 20th. Finally, Capital One Financial cut shares of Cimarex Energy from an overweight rating to an equal weight rating in a report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $20.28.

NASDAQ CRZO opened at $9.58 on Monday. The business has a fifty day moving average of $9.99. The stock has a market capitalization of $960.20 million, a PE ratio of 3.76, a P/E/G ratio of 0.14 and a beta of 2.14. Carrizo Oil & Gas has a 12-month low of $8.64 and a 12-month high of $29.58. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.55.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.07. Carrizo Oil & Gas had a net margin of 49.20% and a return on equity of 32.14%. The business had revenue of $233.04 million during the quarter, compared to analysts’ expectations of $228.41 million. During the same quarter last year, the company posted $0.48 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts forecast that Carrizo Oil & Gas will post 2.74 earnings per share for the current year.

In other news, insider S P. Iv Johnson sold 8,000 shares of Carrizo Oil & Gas stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $12.45, for a total value of $99,600.00. Following the sale, the insider now owns 203,221 shares in the company, valued at $2,530,101.45. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 24,000 shares of company stock worth $259,600. Company insiders own 4.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. grew its position in Carrizo Oil & Gas by 56.8% during the 4th quarter. Prudential Financial Inc. now owns 231,065 shares of the oil and gas producer’s stock worth $2,609,000 after acquiring an additional 83,735 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Carrizo Oil & Gas by 93.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,657 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 5,143 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Carrizo Oil & Gas by 15.7% in the 4th quarter. New York State Common Retirement Fund now owns 246,687 shares of the oil and gas producer’s stock valued at $2,785,000 after buying an additional 33,428 shares during the last quarter. BlackRock Inc. grew its position in shares of Carrizo Oil & Gas by 1.9% in the 4th quarter. BlackRock Inc. now owns 12,685,504 shares of the oil and gas producer’s stock valued at $143,221,000 after buying an additional 236,180 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Carrizo Oil & Gas by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,121,591 shares of the oil and gas producer’s stock valued at $12,664,000 after buying an additional 25,722 shares during the last quarter.

About Carrizo Oil & Gas

Carrizo Oil & Gas, Inc, an energy company, explores for, develops, and produces 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 the Eagle Ford Shale in South Texas; and the Permian Basin in West Texas.

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

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