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Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) Downgraded by J P Morgan Chase & Co to Neutral
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A number of other brokerages also recently issued reports on CRZO. Robert W. Baird reduced their price target on Carrizo Oil & Gas from $50.00 to $36.00 and set an outperform rating on the stock in a research report on Wednesday, May 24th. BidaskClub raised Carrizo Oil & Gas from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. Royal Bank Of Canada set a $40.00 price target on Carrizo Oil & Gas and gave the stock a buy rating in a research report on Thursday, May 11th. Jefferies Group LLC set a $36.00 price target on Carrizo Oil & Gas and gave the stock a buy rating in a research report on Wednesday, May 17th. Finally, Zacks Investment Research downgraded Carrizo Oil & Gas from a hold rating to a sell rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $40.72.
Carrizo Oil & Gas (NASDAQ:CRZO) traded down 3.03% during trading on Thursday, hitting $15.37. The company had a trading volume of 3,518,635 shares. Carrizo Oil & Gas has a one year low of $14.58 and a one year high of $43.96. The stock has a 50-day moving average of $17.85 and a 200 day moving average of $26.88. The company’s market capitalization is $1.01 billion.
Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings results on Tuesday, May 9th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.05. The business had revenue of $151.36 million for the quarter, compared to the consensus estimate of $147.19 million. Carrizo Oil & Gas had a negative return on equity of 128.17% and a negative net margin of 63.08%. The firm’s quarterly revenue was up 86.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. Equities analysts forecast that Carrizo Oil & Gas will post $1.08 EPS for the current fiscal year.
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In other news, Director Frank A. Wojtek sold 2,800 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $24.24, for a total value of $67,872.00. Following the completion of the transaction, the director now directly owns 30,008 shares in the company, valued at approximately $727,393.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Guggenheim Capital LLC boosted its position in shares of Carrizo Oil & Gas by 231.4% in the fourth quarter. Guggenheim Capital LLC now owns 51,546 shares of the oil and gas producer’s stock worth $1,925,000 after buying an additional 35,994 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Carrizo Oil & Gas by 12.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas producer’s stock worth $635,000 after buying an additional 1,900 shares during the last quarter. Norges Bank purchased a new position in shares of Carrizo Oil & Gas during the fourth quarter worth approximately $8,100,000. Macquarie Group Ltd. boosted its position in shares of Carrizo Oil & Gas by 6.2% in the fourth quarter. Macquarie Group Ltd. now owns 723,479 shares of the oil and gas producer’s stock worth $27,022,000 after buying an additional 42,356 shares during the last quarter. Finally, Foundry Partners LLC boosted its position in shares of Carrizo Oil & Gas by 1.9% in the first quarter. Foundry Partners LLC now owns 69,888 shares of the oil and gas producer’s stock worth $2,003,000 after buying an additional 1,273 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.
About Carrizo Oil & Gas
Carrizo Oil & Gas, Inc is an energy company. The Company is engaged in the exploration, development and production of oil and gas from resource plays located in the United States. Its operations are focused in proven, producing oil and gas plays in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado, and the Marcellus Shale in Pennsylvania.