Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) - Investment analysts at KeyCorp lowered their Q2 2017 EPS estimates for shares of Carrizo Oil & Gas in a research note issued on Thursday. KeyCorp analyst C. Stevens now expects that the oil and gas producer will earn $0.27 per share for the quarter, down from their previous forecast of $0.36.
A number of other brokerages have also recently issued reports on CRZO. Robert W. Baird cut their target price on shares of Carrizo Oil & Gas from $50.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, May 24th. BidaskClub upgraded shares of 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 target price on shares of 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 target price on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a research report on Wednesday, May 17th. Finally, Zacks Investment Research cut shares of Carrizo Oil & Gas from a “hold” rating to a “sell” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $41.88.
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Carrizo Oil & Gas (NASDAQ CRZO) opened at 15.94 on Monday. Carrizo Oil & Gas has a 52-week low of $14.58 and a 52-week high of $43.96. The company’s 50 day moving average is $18.17 and its 200 day moving average is $27.03. The firm’s market cap is $1.05 billion.
Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings results on Tuesday, May 9th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. Carrizo Oil & Gas had a negative net margin of 63.08% and a negative return on equity of 128.17%. The firm had revenue of $151.36 million during the quarter, compared to the consensus estimate of $147.19 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company’s revenue for the quarter was up 86.3% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in CRZO. Louisiana State Employees Retirement System increased its stake in Carrizo Oil & Gas by 25.3% in the second quarter. Louisiana State Employees Retirement System now owns 31,200 shares of the oil and gas producer’s stock worth $544,000 after buying an additional 6,300 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Carrizo Oil & Gas by 79.9% in the second quarter. State of Alaska Department of Revenue now owns 12,164 shares of the oil and gas producer’s stock worth $211,000 after buying an additional 5,404 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in Carrizo Oil & Gas by 64.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 22,265 shares of the oil and gas producer’s stock worth $388,000 after buying an additional 8,750 shares during the last quarter. Hartwell J M Limited Partnership bought a new stake in Carrizo Oil & Gas during the second quarter worth about $261,000. Finally, Nuveen Asset Management LLC increased its stake in Carrizo Oil & Gas by 5.6% in the first quarter. Nuveen Asset Management LLC now owns 66,702 shares of the oil and gas producer’s stock worth $1,912,000 after buying an additional 3,545 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.
In related news, Director Frank A. Wojtek sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $24.24, for a total value of $67,872.00. Following the completion of the sale, the director now directly owns 30,008 shares in the company, valued at $727,393.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.00% of the stock is currently owned by insiders.
Carrizo Oil & Gas Company Profile
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.
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