Shares of Carrizo Oil & Gas Inc (NASDAQ:CRZO) gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $6.14, but opened at $6.35. Carrizo Oil & Gas shares last traded at $6.54, with a volume of 7,148,100 shares trading hands.
Specifically, Director Steven A. Webster acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was purchased at an average price of $6.47 per share, with a total value of $323,500.00. Following the completion of the acquisition, the director now directly owns 2,849,941 shares in the company, valued at approximately $18,439,118.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO S P. Iv Johnson sold 8,000 shares of Carrizo Oil & Gas stock in a transaction on Monday, September 16th. The stock was sold at an average price of $9.83, for a total transaction of $78,640.00. Following the completion of the transaction, the chief executive officer now directly owns 171,221 shares of the company’s stock, valued at approximately $1,683,102.43. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.
A number of equities analysts have commented on CRZO shares. Williams Capital downgraded shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Zacks Investment Research downgraded shares of Carrizo Oil & Gas from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 15th. Wells Fargo & Co decreased their price objective on shares of Carrizo Oil & Gas from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Northland Securities reaffirmed a “hold” rating and issued a $9.00 price objective on shares of Carrizo Oil & Gas in a report on Sunday, September 1st. Finally, Piper Jaffray Companies set a $15.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “hold” rating in a report on Friday, August 16th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $14.35.
The company has a market cap of $606.13 million, a price-to-earnings ratio of 2.35, a P/E/G ratio of 0.09 and a beta of 2.12. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.42 and a quick ratio of 0.42. The firm’s fifty day moving average price is $7.34 and its 200-day moving average price is $8.89.
Carrizo Oil & Gas (NASDAQ:CRZO) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. Carrizo Oil & Gas had a net margin of 61.01% and a return on equity of 19.61%. The company had revenue of $256.99 million during the quarter, compared to the consensus estimate of $261.67 million. As a group, equities analysts forecast that Carrizo Oil & Gas Inc will post 2.52 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Carrizo Oil & Gas by 2.2% in the second quarter. BlackRock Inc. now owns 12,994,109 shares of the oil and gas producer’s stock worth $130,201,000 after purchasing an additional 277,061 shares during the period. Macquarie Group Ltd. lifted its holdings in Carrizo Oil & Gas by 6.7% in the second quarter. Macquarie Group Ltd. now owns 3,939,222 shares of the oil and gas producer’s stock worth $39,471,000 after purchasing an additional 245,626 shares during the period. Voya Investment Management LLC lifted its holdings in Carrizo Oil & Gas by 9.6% in the third quarter. Voya Investment Management LLC now owns 2,532,769 shares of the oil and gas producer’s stock worth $21,744,000 after purchasing an additional 221,754 shares during the period. Mackenzie Financial Corp lifted its holdings in Carrizo Oil & Gas by 10.0% in the second quarter. Mackenzie Financial Corp now owns 2,111,263 shares of the oil and gas producer’s stock worth $21,155,000 after purchasing an additional 192,600 shares during the period. Finally, ARP Americas LP acquired a new stake in Carrizo Oil & Gas in the third quarter worth about $16,673,000.
Carrizo Oil & Gas Company Profile (NASDAQ:CRZO)
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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