Q4 2016 EPS Estimates for Carrizo Oil & Gas Inc. (CRZO) Reduced by FBR & Co
Carrizo Oil & Gas Inc. (NASDAQ:CRZO) – Research analysts at FBR & Co lowered their Q4 2016 EPS estimates for shares of Carrizo Oil & Gas in a research report issued to clients and investors on Monday. FBR & Co analyst C. Mabry now expects that the firm will earn $0.40 per share for the quarter, down from their previous estimate of $0.52. FBR & Co has a “Outperform” rating and a $50.00 price target on the stock. FBR & Co also issued estimates for Carrizo Oil & Gas’ FY2018 earnings at $1.96 EPS.
A number of other brokerages have also recently weighed in on CRZO. Mizuho assumed coverage on Carrizo Oil & Gas in a research note on Wednesday. They issued a “neutral” rating and a $42.00 price target on the stock. Zacks Investment Research cut Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity lifted their price target on Carrizo Oil & Gas from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, June 9th. Stifel Nicolaus reissued a “buy” rating on shares of Carrizo Oil & Gas in a research note on Wednesday, August 31st. Finally, Imperial Capital lifted their price target on Carrizo Oil & Gas from $39.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Carrizo Oil & Gas has a consensus rating of “Buy” and a consensus price target of $39.74.
Carrizo Oil & Gas (NASDAQ:CRZO) opened at 41.48 on Wednesday. The stock’s market cap is $2.45 billion. The company has a 50-day moving average of $37.36 and a 200-day moving average of $35.65. Carrizo Oil & Gas has a 52 week low of $16.10 and a 52 week high of $43.97.
Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earned $107.30 million during the quarter, compared to the consensus estimate of $119.67 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was down 13.1% on a year-over-year basis.
Several 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 about $117,000. Blair William & Co. IL purchased a new stake in Carrizo Oil & Gas during the second quarter worth about $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 about $233,000.
In other news, Director Roger A. Ramsey sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $39.86, for a total transaction of $39,860.00. Following the sale, the director now directly owns 33,450 shares in the company, valued at $1,333,317. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO John Bradley Fisher sold 27,831 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $35.05, for a total value of $975,476.55. Following the sale, the chief operating officer now owns 179,403 shares in the company, valued at $6,288,075.15. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.
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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