Carrizo Oil & Gas Inc. (CRZO) Downgraded by Goldman Sachs Group Inc. to Neutral
Goldman Sachs Group Inc. lowered shares of Carrizo Oil & Gas Inc. (NASDAQ:CRZO) from a buy rating to a neutral rating in a report issued on Tuesday morning. They currently have $45.00 price target on the stock.
A number of other research firms have also weighed in on CRZO. Mizuho initiated coverage on shares of Carrizo Oil & Gas in a research report on Wednesday, October 5th. They set a neutral rating and a $42.00 target price for the company. Zacks Investment Research lowered shares of Carrizo Oil & Gas from a buy rating to a hold rating in a research report on Monday, August 22nd. Simmons reaffirmed a neutral rating and set a $46.00 price objective (up previously from $42.00) on shares of Carrizo Oil & Gas in a research report on Monday, August 15th. Credit Suisse Group AG lowered shares of Carrizo Oil & Gas from an outperform rating to a neutral rating and cut their price objective for the company from $42.00 to $41.00 in a research report on Thursday, October 13th. Finally, FBR & Co upped their price objective on shares of Carrizo Oil & Gas from $49.00 to $50.00 and gave the company an outperform rating in a research report on Tuesday, September 6th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $40.65.
Shares of Carrizo Oil & Gas (NASDAQ:CRZO) opened at 39.97 on Tuesday. Carrizo Oil & Gas has a 12-month low of $16.10 and a 12-month high of $43.56. The stock’s 50 day moving average price is $38.23 and its 200-day moving average price is $36.28. The company’s market cap is $2.36 billion.
Carrizo Oil & Gas (NASDAQ:CRZO) last released its earnings results on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.16. The firm earned $107.30 million during the quarter, compared to analyst estimates of $119.67 million. Carrizo Oil & Gas had a negative net margin of 421.40% and a positive return on equity of 19.03%. The business’s revenue was down 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. On average, equities research analysts forecast that Carrizo Oil & Gas will post $1.06 earnings per share for the current year.
In related news, COO John Bradley Fisher sold 27,831 shares of the 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 transaction, the chief operating officer now directly owns 179,403 shares in the company, valued at $6,288,075.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roger A. Ramsey sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 33,450 shares in the company, valued at $1,333,317. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in shares of 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 in the last quarter. Bank of Montreal Can purchased a new stake in Carrizo Oil & Gas during the second quarter valued at $14,514,000. Jacobs Levy Equity Management Inc. purchased a new stake in Carrizo Oil & Gas during the first quarter valued at $3,069,000. PineBridge Investments L.P. raised 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. Finally, Credit Agricole S A raised 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.
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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