Carrizo Oil & Gas, Inc. (NASDAQ:CRZO)’s share price traded up 6.2% on Tuesday after an insider bought additional shares in the company. The stock traded as high as $12.68 and last traded at $12.38. 5,853,279 shares changed hands during mid-day trading, an increase of 51% from the average session volume of 3,885,790 shares. The stock had previously closed at $11.66.

Specifically, Director Steven A. Webster purchased 151,900 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average cost of $13.56 per share, for a total transaction of $2,059,764.00. Following the acquisition, the director now directly owns 2,724,410 shares of the company’s stock, valued at approximately $36,942,999.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven A. Webster purchased 75,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average price of $13.89 per share, with a total value of $1,041,750.00. Following the completion of the acquisition, the director now directly owns 2,724,410 shares in the company, valued at $37,842,054.90. The disclosure for this purchase can be found here. Insiders have purchased a total of 431,600 shares of company stock valued at $5,602,306 over the last quarter. 6.00% of the stock is currently owned by company insiders.

A number of equities research analysts recently commented on the stock. Mizuho reiterated a “buy” rating and set a $32.00 price target on shares of Carrizo Oil & Gas in a report on Friday, June 30th. BMO Capital Markets set a $20.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a report on Monday, June 26th. Seaport Global Securities lowered shares of Carrizo Oil & Gas from a “buy” rating to a “sell” rating in a report on Wednesday, June 21st. Jefferies Group LLC restated a “buy” rating and issued a $25.00 price objective (down from $64.00) on shares of Carrizo Oil & Gas in a report on Tuesday, August 29th. Finally, Tudor Pickering lowered shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $38.47.

The firm’s market capitalization is $1.01 billion. The stock has a 50-day moving average of $13.81 and a 200 day moving average of $21.25.

Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. The firm had revenue of $166.50 million during the quarter, compared to the consensus estimate of $163.22 million. Carrizo Oil & Gas had a positive return on equity of 1,494.45% and a negative net margin of 0.98%. The firm’s quarterly revenue was up 55.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. Equities research analysts anticipate that Carrizo Oil & Gas, Inc. will post $1.07 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in CRZO. BlackRock Inc. raised its holdings in shares of Carrizo Oil & Gas by 20,572.2% in the first quarter. BlackRock Inc. now owns 8,555,207 shares of the oil and gas producer’s stock valued at $245,193,000 after acquiring an additional 8,513,822 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Carrizo Oil & Gas by 89.5% in the second quarter. Lord Abbett & CO. LLC now owns 2,659,107 shares of the oil and gas producer’s stock valued at $46,322,000 after acquiring an additional 1,256,160 shares in the last quarter. Marshall Wace North America L.P. raised its holdings in shares of Carrizo Oil & Gas by 2,349.5% in the second quarter. Marshall Wace North America L.P. now owns 897,901 shares of the oil and gas producer’s stock valued at $15,264,000 after acquiring an additional 861,245 shares in the last quarter. State Street Corp raised its holdings in shares of Carrizo Oil & Gas by 28.7% in the second quarter. State Street Corp now owns 3,815,021 shares of the oil and gas producer’s stock valued at $66,454,000 after acquiring an additional 850,815 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of Carrizo Oil & Gas by 17.0% in the second quarter. Frontier Capital Management Co. LLC now owns 4,905,089 shares of the oil and gas producer’s stock valued at $85,447,000 after acquiring an additional 714,257 shares in the last quarter. Hedge funds and other institutional investors own 99.96% of the company’s stock.

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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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