Zacks Investment Research upgraded shares of Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) from a hold rating to a buy rating in a research note released on Monday morning. Zacks Investment Research currently has $19.00 price objective on the oil and gas producer’s 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. “

A number of other analysts also recently issued reports on the stock. BidaskClub raised shares of Carrizo Oil & Gas from a strong sell rating to a sell rating in a report on Wednesday, June 14th. Seaport Global Securities cut shares of Carrizo Oil & Gas from a buy rating to a sell rating in a research note on Wednesday, June 21st. BMO Capital Markets set a $20.00 price objective on shares of Carrizo Oil & Gas and gave the stock a buy rating in a research note on Monday, June 26th. Mizuho reiterated a buy rating and issued a $32.00 price objective on shares of Carrizo Oil & Gas in a research note on Friday, June 30th. Finally, J P Morgan Chase & Co cut shares of Carrizo Oil & Gas from an overweight rating to a neutral rating and lowered their price objective for the stock from $30.00 to $21.00 in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and an average price target of $33.74.

Shares of Carrizo Oil & Gas (NASDAQ:CRZO) traded up 0.7819% on Monday, hitting $16.4073. 394,114 shares of the stock were exchanged. Carrizo Oil & Gas has a 12 month low of $11.10 and a 12 month high of $43.96. The company’s market cap is $1.34 billion. The company has a 50-day moving average price of $14.68 and a 200 day moving average price of $19.11.

Carrizo Oil & Gas (NASDAQ:CRZO) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Carrizo Oil & Gas had a negative net margin of 0.98% and a positive return on equity of 1,494.45%. The company had revenue of $166.50 million for the quarter, compared to the consensus estimate of $163.22 million. During the same period in the prior year, the firm posted $0.29 EPS. Carrizo Oil & Gas’s revenue for the quarter was up 55.2% on a year-over-year basis. Equities analysts forecast that Carrizo Oil & Gas will post $1.06 EPS for the current fiscal year.

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

Several hedge funds have recently made changes to their positions in CRZO. BlackRock Inc. raised its stake in Carrizo Oil & Gas by 20,572.2% in the 1st quarter. BlackRock Inc. now owns 8,555,207 shares of the oil and gas producer’s stock valued at $245,193,000 after purchasing an additional 8,513,822 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Carrizo Oil & Gas by 89.5% in the 2nd 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 purchasing an additional 1,256,160 shares during the last quarter. Marshall Wace North America L.P. raised its stake in Carrizo Oil & Gas by 2,349.5% in the 2nd 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 purchasing an additional 861,245 shares during the last quarter. State Street Corp raised its stake in Carrizo Oil & Gas by 28.7% in the 2nd quarter. State Street Corp now owns 3,815,021 shares of the oil and gas producer’s stock valued at $66,454,000 after purchasing an additional 850,815 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its stake in Carrizo Oil & Gas by 17.0% in the 2nd 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 purchasing an additional 714,257 shares during 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.

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Analyst Recommendations for Carrizo Oil & Gas (NASDAQ:CRZO)

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