Zacks Investment Research lowered shares of Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) from a buy rating to a hold rating in a report released on Tuesday.

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. “

Other equities analysts have also recently issued reports about the stock. Williams Capital set a $35.00 target price on shares of Carrizo Oil & Gas and gave the company a buy rating in a research note on Tuesday, August 8th. 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. BidaskClub cut shares of Carrizo Oil & Gas from a sell rating to a strong sell rating in a research note on Thursday, June 22nd. Tudor Pickering cut shares of Carrizo Oil & Gas from a buy rating to a hold rating in a research note on Tuesday, September 5th. Finally, Citigroup Inc. assumed coverage on shares of Carrizo Oil & Gas in a research note on Monday, September 18th. They set a neutral rating and a $16.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $33.74.

Carrizo Oil & Gas (NASDAQ:CRZO) last released its earnings results 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. The firm had revenue of $166.50 million during the quarter, compared to analysts’ expectations of $163.22 million. Carrizo Oil & Gas had a negative net margin of 0.98% and a positive return on equity of 1,494.45%. The business’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS.

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In other news, Director Steven A. Webster bought 75,000 shares of the stock in a transaction dated Friday, September 8th. The shares were acquired at an average price of $11.70 per share, with a total value of $877,500.00. Following the acquisition, the director now owns 2,786,310 shares in the company, valued at $32,599,827. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven A. Webster bought 25,000 shares of the stock in a transaction dated Monday, August 28th. The stock was purchased at an average cost of $12.67 per share, for a total transaction of $316,750.00. Following the acquisition, the director now owns 2,826,310 shares in the company, valued at approximately $35,809,347.70. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 431,600 shares of company stock worth $5,602,306. 6.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Carrizo Oil & Gas by 11.4% in the 2nd quarter. BlackRock Inc. now owns 9,534,149 shares of the oil and gas producer’s stock worth $166,088,000 after purchasing an additional 978,942 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Carrizo Oil & Gas by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 6,427,895 shares of the oil and gas producer’s stock worth $111,975,000 after purchasing an additional 405,188 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of 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 worth $85,447,000 after purchasing an additional 714,257 shares during the last quarter. State Street Corp grew its holdings in shares of 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 worth $66,454,000 after purchasing an additional 850,815 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of 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 worth $46,322,000 after purchasing an additional 1,256,160 shares during the last quarter.

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

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