Carrizo Oil & Gas (CRZO) Shares Gap Up to $12.49

Carrizo Oil & Gas Inc (NASDAQ:CRZO)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $12.17, but opened at $12.49. Carrizo Oil & Gas shares last traded at $12.93, with a volume of 3057667 shares traded.

A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Thursday, October 25th. BidaskClub upgraded Carrizo Oil & Gas from a “hold” rating to a “buy” rating in a research note on Wednesday, September 26th. Jefferies Financial Group upgraded Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Monday, October 15th. Williams Capital set a $38.00 price objective on Carrizo Oil & Gas and gave the company a “buy” rating in a research note on Tuesday, November 6th. Finally, MKM Partners assumed coverage on Carrizo Oil & Gas in a research note on Wednesday, December 5th. They set a “buy” rating and a $27.00 price objective for the company. Four analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Carrizo Oil & Gas presently has an average rating of “Hold” and a consensus price target of $27.63.

The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 8.48 and a beta of 2.47. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.84.

Carrizo Oil & Gas (NASDAQ:CRZO) last issued its earnings results on Monday, November 5th. The oil and gas producer reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.15. The business had revenue of $303.40 million for the quarter, compared to analysts’ expectations of $265.34 million. Carrizo Oil & Gas had a return on equity of 56.06% and a net margin of 12.23%. The business’s revenue for the quarter was up 67.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. Research analysts forecast that Carrizo Oil & Gas Inc will post 3.09 EPS for the current year.

In other news, insider S P. Iv Johnson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $12.43, for a total transaction of $99,440.00. Following the transaction, the insider now directly owns 147,076 shares in the company, valued at approximately $1,828,154.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 24,000 shares of company stock worth $418,800. Insiders own 5.40% of the company’s stock.

Several institutional investors have recently modified their holdings of CRZO. BlackRock Inc. lifted its holdings in Carrizo Oil & Gas by 14.4% in the third quarter. BlackRock Inc. now owns 12,449,324 shares of the oil and gas producer’s stock valued at $313,723,000 after acquiring an additional 1,569,126 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Carrizo Oil & Gas by 22.1% in the third quarter. Vanguard Group Inc. now owns 9,032,268 shares of the oil and gas producer’s stock valued at $227,614,000 after acquiring an additional 1,633,508 shares during the last quarter. Vanguard Group Inc lifted its holdings in Carrizo Oil & Gas by 22.1% in the third quarter. Vanguard Group Inc now owns 9,032,268 shares of the oil and gas producer’s stock valued at $227,614,000 after acquiring an additional 1,633,508 shares during the last quarter. LSV Asset Management lifted its holdings in Carrizo Oil & Gas by 1.1% in the third quarter. LSV Asset Management now owns 4,127,585 shares of the oil and gas producer’s stock valued at $104,015,000 after acquiring an additional 45,135 shares during the last quarter. Finally, Zimmer Partners LP acquired a new position in Carrizo Oil & Gas in the third quarter valued at approximately $76,860,000.

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About Carrizo Oil & Gas (NASDAQ:CRZO)

Carrizo Oil & Gas, Inc, together with its subsidiaries, engages in the exploration, development, and production of 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 Eagle Ford Shale in South Texas; and the Delaware Basin in West Texas.

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