Carrizo Oil & Gas (CRZO) Downgraded by Zacks Investment Research

Carrizo Oil & Gas (NASDAQ:CRZO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development, exploitation and production of oil and natural gas primarily in proven trends in the Barnett Shale area in North Texas and along the Texas and Louisiana onshore Gulf Coast regions. Carrizo controls significant prospective acreage blocks and utilizes advanced three-D seismic techniques to identify potential oil and gas reserves and drilling opportunities. “

CRZO has been the subject of a number of other reports. BidaskClub lowered Carrizo Oil & Gas from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Williams Capital set a $19.00 price objective on Carrizo Oil & Gas and gave the company a “buy” rating in a research note on Tuesday, February 26th. Ifs Securities downgraded Carrizo Oil & Gas from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $15.00 to $13.00 in a research note on Tuesday, April 23rd. Oppenheimer restated a “hold” rating on shares of Carrizo Oil & Gas in a research note on Tuesday, February 26th. Finally, MKM Partners reduced their price objective on Carrizo Oil & Gas to $18.00 and set a “buy” rating for the company in a research note on Wednesday, February 27th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Carrizo Oil & Gas has an average rating of “Hold” and an average target price of $23.53.

NASDAQ CRZO opened at $12.55 on Tuesday. The firm has a market capitalization of $1.13 billion, a P/E ratio of 4.51, a P/E/G ratio of 0.15 and a beta of 2.27. Carrizo Oil & Gas has a 12 month low of $9.67 and a 12 month high of $31.57. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.55.

Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. The business had revenue of $233.04 million during the quarter, compared to analyst estimates of $228.41 million. Carrizo Oil & Gas had a return on equity of 32.14% and a net margin of 49.20%. Carrizo Oil & Gas’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. Equities analysts expect that Carrizo Oil & Gas will post 2.94 EPS for the current year.

In other news, insider S P. Iv Johnson sold 8,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $12.78, for a total transaction of $102,240.00. Following the completion of the transaction, the insider now owns 211,221 shares in the company, valued at approximately $2,699,404.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gregory F. Conaway sold 5,644 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $12.11, for a total value of $68,348.84. Following the transaction, the vice president now owns 29,552 shares of the company’s stock, valued at approximately $357,874.72. The disclosure for this sale can be found here. Insiders have sold a total of 130,523 shares of company stock valued at $1,584,394 in the last quarter. 4.80% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. First Quadrant L P CA bought a new position in shares of Carrizo Oil & Gas during the 1st quarter worth $63,000. Cypress Capital Management LLC WY bought a new position in shares of Carrizo Oil & Gas during the 4th quarter worth $58,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Carrizo Oil & Gas by 24.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,058 shares of the oil and gas producer’s stock worth $69,000 after acquiring an additional 1,205 shares during the period. Advisor Group Inc. grew its stake in shares of Carrizo Oil & Gas by 276.2% during the 4th quarter. Advisor Group Inc. now owns 7,333 shares of the oil and gas producer’s stock worth $83,000 after acquiring an additional 5,384 shares during the period. Finally, Advisory Services Network LLC bought a new position in shares of Carrizo Oil & Gas during the 4th quarter worth $90,000.

About Carrizo Oil & Gas

Carrizo Oil & Gas, Inc, an energy company, explores for, develops, and produces 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 the Eagle Ford Shale in South Texas; and the Permian Basin in West Texas.

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