Carrizo Oil & Gas Inc (NASDAQ:CRZO) issued its earnings results on Tuesday. The oil and gas producer reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.05. The firm had revenue of $151.36 million during the quarter, compared to the consensus estimate of $147.19 million. Carrizo Oil & Gas had a positive return on equity of 85.42% and a negative net margin of 264.25%. The business’s quarterly revenue was up 86.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share.
Carrizo Oil & Gas (NASDAQ:CRZO) traded up 2.71% on Friday, hitting $24.29. The stock had a trading volume of 1,194,614 shares. The firm has a 50-day moving average of $26.13 and a 200 day moving average of $32.77. Carrizo Oil & Gas has a 52 week low of $23.49 and a 52 week high of $43.96. The company’s market capitalization is $1.60 billion.
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Several research analysts have commented on the company. Scotiabank set a $48.00 target price on Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Monday, March 27th. FBR & Co reiterated an “outperform” rating and issued a $42.00 target price (down from $47.00) on shares of Carrizo Oil & Gas in a report on Friday, February 24th. Zacks Investment Research cut Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Monday, February 6th. Royal Bank of Canada reiterated a “buy” rating and issued a $47.00 target price on shares of Carrizo Oil & Gas in a report on Friday, March 31st. Finally, Seaport Global Securities upgraded Carrizo Oil & Gas from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Carrizo Oil & Gas currently has a consensus rating of “Buy” and an average price target of $44.83.
In other news, Director Steven A. Webster purchased 40,830 shares of the stock in a transaction on Friday, March 3rd. The stock was bought at an average price of $30.99 per share, with a total value of $1,265,321.70. Following the transaction, the director now owns 2,618,010 shares in the company, valued at approximately $81,132,129.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven A. Webster purchased 25,000 shares of the stock in a transaction on Thursday, March 2nd. The shares were purchased at an average cost of $31.25 per share, with a total value of $781,250.00. Following the transaction, the director now owns 2,577,180 shares in the company, valued at approximately $80,536,875. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 90,830 shares of company stock worth $2,736,072 and have sold 158,678 shares worth $4,472,550. 6.30% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in Carrizo Oil & Gas by 0.9% in the third quarter. California State Teachers Retirement System now owns 118,253 shares of the oil and gas producer’s stock worth $4,803,000 after buying an additional 1,000 shares during the last quarter. HAP Trading LLC bought a new position in Carrizo Oil & Gas during the third quarter worth $1,307,000. SG Americas Securities LLC bought a new position in Carrizo Oil & Gas during the third quarter worth $642,000. Municipal Employees Retirement System of Michigan raised its position in Carrizo Oil & Gas by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 12,130 shares of the oil and gas producer’s stock worth $493,000 after buying an additional 200 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Carrizo Oil & Gas by 4.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,471,577 shares of the oil and gas producer’s stock worth $59,775,000 after buying an additional 68,658 shares during the last quarter.
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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