Carrizo Oil & Gas Inc. (CRZO) Sees Significant Decrease in Short Interest
Carrizo Oil & Gas Inc. (NASDAQ:CRZO) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 9,924,959 shares, a decrease of 8.2% from the August 31st total of 10,812,723 shares. Currently, 17.9% of the shares of the stock are sold short. Based on an average daily volume of 1,579,285 shares, the days-to-cover ratio is presently 6.3 days.
Several analysts have recently weighed in on CRZO shares. Seaport Global Securities upgraded shares of Carrizo Oil & Gas from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research report on Tuesday, June 7th. Stifel Nicolaus began coverage on shares of Carrizo Oil & Gas in a research report on Thursday, June 16th. They issued a “buy” rating and a $48.00 target price on the stock. Canaccord Genuity lifted their target price on shares of Carrizo Oil & Gas from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, June 9th. Cantor Fitzgerald reiterated a “buy” rating on shares of Carrizo Oil & Gas in a research report on Saturday, June 4th. Finally, Zacks Investment Research upgraded shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, July 6th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $39.64.
In other news, COO John Bradley Fisher sold 27,831 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $35.05, for a total transaction of $975,476.55. Following the sale, the chief operating officer now owns 179,403 shares in the company, valued at approximately $6,288,075.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Roger A. Ramsey sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $39.86, for a total transaction of $39,860.00. Following the sale, the director now owns 33,450 shares in the company, valued at approximately $1,333,317. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Financial Architects Inc boosted its stake in Carrizo Oil & Gas by 4,458.8% in the second quarter. Financial Architects Inc now owns 3,100 shares of the company’s stock worth $111,000 after buying an additional 3,032 shares in the last quarter. Huntington Asset Advisors Inc. purchased a new stake in Carrizo Oil & Gas during the first quarter worth $117,000. Blair William & Co. IL purchased a new stake in Carrizo Oil & Gas during the second quarter worth $209,000. Panagora Asset Management Inc. boosted its stake in Carrizo Oil & Gas by 77.2% in the second quarter. Panagora Asset Management Inc. now owns 6,127 shares of the company’s stock worth $220,000 after buying an additional 2,670 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in Carrizo Oil & Gas during the second quarter worth $233,000.
Carrizo Oil & Gas (NASDAQ:CRZO) opened at 37.56 on Thursday. The stock’s market capitalization is $2.22 billion. Carrizo Oil & Gas has a 12-month low of $16.10 and a 12-month high of $43.97. The stock’s 50 day moving average is $36.63 and its 200 day moving average is $35.20.
Carrizo Oil & Gas (NASDAQ:CRZO) last issued its earnings results on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.16. Carrizo Oil & Gas had a negative net margin of 421.40% and a positive return on equity of 19.03%. The company had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $119.67 million. During the same period in the prior year, the business earned $0.39 EPS. The firm’s quarterly revenue was down 13.1% on a year-over-year basis. Equities analysts anticipate that Carrizo Oil & Gas will post $1.08 EPS for the current fiscal year.
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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