Jefferies Group LLC downgraded shares of Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) from a buy rating to a hold rating in a research note published on Monday, October 9th, Marketbeat reports. Jefferies Group LLC currently has $16.00 target price on the oil and gas producer’s stock, down from their previous target price of $25.00. Jefferies Group also issued estimates for Carrizo Oil & Gas’ Q3 2017 earnings at $0.24 EPS, Q4 2017 earnings at $0.42 EPS, FY2017 earnings at $1.16 EPS, Q1 2018 earnings at $0.35 EPS, Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.44 EPS, Q4 2018 earnings at $0.45 EPS, FY2018 earnings at $1.59 EPS, Q1 2019 earnings at $0.47 EPS, Q2 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.50 EPS and FY2019 earnings at $1.96 EPS.
Several other research analysts also recently issued reports on CRZO. Williams Capital set a $35.00 target price on Carrizo Oil & Gas and gave the company a buy rating in a report on Tuesday, August 8th. Seaport Global Securities cut Carrizo Oil & Gas from a buy rating to a sell rating in a report on Wednesday, June 21st. BidaskClub cut Carrizo Oil & Gas from a sell rating to a strong sell rating in a report on Thursday, June 22nd. Zacks Investment Research upgraded Carrizo Oil & Gas from a sell rating to a hold rating in a report on Friday, August 11th. Finally, Tudor Pickering cut Carrizo Oil & Gas from a buy rating to a hold rating in a report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Carrizo Oil & Gas presently has an average rating of Hold and a consensus price target of $31.53.
Carrizo Oil & Gas (NASDAQ CRZO) traded down 3.94% during mid-day trading on Monday, reaching $15.85. 2,968,214 shares of the company’s stock traded hands. The company’s market capitalization is $1.29 billion. Carrizo Oil & Gas has a 52-week low of $11.10 and a 52-week high of $43.96. The company has a 50-day moving average of $14.81 and a 200-day moving average of $18.90.
Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Carrizo Oil & Gas had a negative net margin of 0.98% and a positive return on equity of 1,494.45%. The business had revenue of $166.50 million during the quarter, compared to analysts’ expectations of $163.22 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. Carrizo Oil & Gas’s revenue was up 55.2% compared to the same quarter last year. Equities research analysts expect that Carrizo Oil & Gas will post $1.06 EPS for the current year.
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In other Carrizo Oil & Gas news, Director Steven A. Webster purchased 25,000 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was purchased at an average price of $12.67 per share, for a total transaction of $316,750.00. Following the transaction, the director now owns 2,826,310 shares in the company, valued at approximately $35,809,347.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven A. Webster purchased 75,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average price of $13.89 per share, with a total value of $1,041,750.00. Following the transaction, the director now owns 2,724,410 shares in the company, valued at approximately $37,842,054.90. The disclosure for this purchase can be found here. In the last three months, insiders purchased 431,600 shares of company stock valued at $5,602,306. 6.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd raised its holdings in shares of Carrizo Oil & Gas by 1,014.9% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,523 shares of the oil and gas producer’s stock valued at $101,000 after buying an additional 3,207 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Carrizo Oil & Gas in the 1st quarter worth approximately $150,000. Kings Point Capital Management increased its stake in Carrizo Oil & Gas by 220.0% in the 2nd quarter. Kings Point Capital Management now owns 8,000 shares of the oil and gas producer’s stock worth $139,000 after purchasing an additional 5,500 shares during the period. Advisor Group Inc. increased its stake in Carrizo Oil & Gas by 47.4% in the 2nd quarter. Advisor Group Inc. now owns 8,121 shares of the oil and gas producer’s stock worth $141,000 after purchasing an additional 2,611 shares during the period. Finally, Blair William & Co. IL increased its stake in Carrizo Oil & Gas by 2.2% in the 1st quarter. Blair William & Co. IL now owns 8,390 shares of the oil and gas producer’s stock worth $242,000 after purchasing an additional 181 shares during the period. 99.97% of the stock is currently owned by institutional investors.
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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