Zacks Investment Research upgraded shares of Carrizo Oil & Gas Inc. (NASDAQ:CRZO) from a hold rating to a buy rating in a report published on Tuesday. They currently have $48.00 price target on the stock.

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. “

Several other equities research analysts have also recently commented on CRZO. FBR & Co boosted their price target on shares of Carrizo Oil & Gas from $49.00 to $50.00 and gave the stock an outperform rating in a research report on Tuesday, September 6th. Simmons reiterated a neutral rating and issued a $46.00 price target (up from $42.00) on shares of Carrizo Oil & Gas in a research report on Monday, August 15th. KLR Group upgraded shares of Carrizo Oil & Gas from an accumulate rating to a buy rating and boosted their price target for the stock from $41.00 to $49.00 in a research report on Monday, July 18th. Mizuho assumed coverage on shares of Carrizo Oil & Gas in a research report on Wednesday, October 5th. They issued a neutral rating and a $42.00 price target on the stock. Finally, Jefferies Group reiterated a buy rating on shares of Carrizo Oil & Gas in a research report on Thursday, August 11th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $40.09.

Carrizo Oil & Gas (NASDAQ:CRZO) opened at 41.66 on Tuesday. The firm’s 50-day moving average is $37.80 and its 200 day moving average is $35.93. The firm’s market cap is $2.46 billion. Carrizo Oil & Gas has a 12-month low of $16.10 and a 12-month high of $43.56.

Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, beating 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 business had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $119.67 million. During the same period in the previous year, the business earned $0.39 earnings per share. The company’s revenue was down 13.1% on a year-over-year basis. Equities research analysts predict that Carrizo Oil & Gas will post $1.06 EPS for the current year.

In related news, Director Roger A. Ramsey sold 1,000 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $39.86, for a total transaction of $39,860.00. Following the completion of the transaction, the director now directly owns 33,450 shares in the company, valued at $1,333,317. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider S P. Iv Johnson sold 6,000 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $39.68, for a total value of $238,080.00. Following the transaction, the insider now owns 601,717 shares of the company’s stock, valued at $23,876,130.56. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in Carrizo Oil & Gas during the first quarter worth $761,000. UBS Group AG increased its position in Carrizo Oil & Gas by 22.1% in the first quarter. UBS Group AG now owns 43,041 shares of the company’s stock worth $1,331,000 after buying an additional 7,781 shares in the last quarter. Third Avenue Management LLC bought a new position in Carrizo Oil & Gas during the first quarter worth $1,450,000. State Street Corp increased its position in Carrizo Oil & Gas by 3.2% in the first quarter. State Street Corp now owns 2,251,334 shares of the company’s stock worth $69,609,000 after buying an additional 68,976 shares in the last quarter. Finally, Kings Point Capital Management increased its position in Carrizo Oil & Gas by 28.6% in the first quarter. Kings Point Capital Management now owns 9,000 shares of the company’s stock worth $278,000 after buying an additional 2,000 shares in the last quarter.

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.

5 Day Chart for NASDAQ:CRZO

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