Insider Selling: Carrizo Oil & Gas Inc. (CRZO) Director Sells 1,000 Shares of Stock
Carrizo Oil & Gas Inc. (NASDAQ:CRZO) Director Roger A. Ramsey sold 1,000 shares of Carrizo Oil & Gas stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $41.35, for a total value of $41,350.00. Following the completion of the sale, the director now directly owns 32,450 shares in the company, valued at $1,341,807.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Carrizo Oil & Gas Inc. (NASDAQ:CRZO) opened at 41.48 on Friday. The firm’s market capitalization is $2.45 billion. The company’s 50-day moving average price is $37.36 and its 200 day moving average price is $35.65. Carrizo Oil & Gas Inc. has a 1-year low of $16.10 and a 1-year high of $43.97.
Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.16. Carrizo Oil & Gas had a positive return on equity of 19.03% and a negative net margin of 421.40%. The business had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $119.67 million. During the same quarter last year, the firm earned $0.39 earnings per share. The business’s revenue was down 13.1% on a year-over-year basis. On average, equities analysts anticipate that Carrizo Oil & Gas Inc. will post $1.06 EPS for the current year.
Several large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in Carrizo Oil & Gas by 111.6% in the second quarter. BNP Paribas Arbitrage SA now owns 17,158 shares of the company’s stock valued at $615,000 after buying an additional 9,051 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Carrizo Oil & Gas during the first quarter valued at about $3,069,000. Bank of Montreal Can acquired a new stake in Carrizo Oil & Gas during the second quarter valued at about $14,514,000. Credit Agricole S A boosted its stake in Carrizo Oil & Gas by 633.3% in the first quarter. Credit Agricole S A now owns 66,000 shares of the company’s stock valued at $2,041,000 after buying an additional 57,000 shares during the period. Finally, PineBridge Investments L.P. boosted its stake in Carrizo Oil & Gas by 4.6% in the second quarter. PineBridge Investments L.P. now owns 6,932 shares of the company’s stock valued at $248,000 after buying an additional 303 shares during the period.
A number of analysts have recently issued reports on CRZO shares. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Carrizo Oil & Gas in a research note on Sunday, July 10th. Zacks Investment Research lowered Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. KLR Group raised Carrizo Oil & Gas from an “accumulate” rating to a “buy” rating and boosted their price objective for the stock from $41.00 to $49.00 in a research note on Monday, July 18th. Simmons reissued a “neutral” rating and set a $46.00 price objective (up previously from $42.00) on shares of Carrizo Oil & Gas in a research note on Monday, August 15th. Finally, FBR & Co boosted their price objective on Carrizo Oil & Gas from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 6th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $39.74.
About Carrizo Oil & Gas
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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