Jefferies Group Brokers Boost Earnings Estimates for Carrizo Oil & Gas, Inc. (CRZO)
Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) – Jefferies Group increased their FY2017 EPS estimates for shares of Carrizo Oil & Gas in a report issued on Thursday. Jefferies Group analyst M. Lear now anticipates that the oil and gas producer will earn $1.17 per share for the year, up from their previous forecast of $1.16. Jefferies Group currently has a “Hold” rating and a $17.00 target price on the stock. Jefferies Group also issued estimates for Carrizo Oil & Gas’ Q4 2017 earnings at $0.33 EPS, Q1 2018 earnings at $0.37 EPS, Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.46 EPS, Q4 2018 earnings at $0.47 EPS, FY2018 earnings at $1.69 EPS, Q1 2019 earnings at $0.53 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.57 EPS and FY2019 earnings at $2.23 EPS.
A number of other equities analysts have also weighed in on CRZO. Zacks Investment Research upgraded Carrizo Oil & Gas from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. BidaskClub downgraded Carrizo Oil & Gas from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Williams Capital set a $35.00 price objective on Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Tuesday, August 8th. BMO Capital Markets set a $20.00 price objective on Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Saturday, August 12th. Finally, Tudor Pickering downgraded Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $29.39.
Carrizo Oil & Gas (NASDAQ:CRZO) opened at $19.35 on Friday. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.32 and a quick ratio of 0.32. Carrizo Oil & Gas has a 1 year low of $11.10 and a 1 year high of $43.96. The firm has a market capitalization of $1,576.15, a price-to-earnings ratio of 15.48 and a beta of 2.20.
Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.09. Carrizo Oil & Gas had a return on equity of 58.37% and a net margin of 16.08%. The business had revenue of $181.28 million during the quarter, compared to analyst estimates of $177.97 million. During the same quarter last year, the company posted $0.23 EPS. Carrizo Oil & Gas’s revenue for the quarter was up 63.1% on a year-over-year basis.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its holdings in Carrizo Oil & Gas by 6.4% in the 2nd quarter. SG Americas Securities LLC now owns 79,499 shares of the oil and gas producer’s stock valued at $1,385,000 after buying an additional 4,785 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Carrizo Oil & Gas during the 2nd quarter worth approximately $4,147,000. Pacad Investment Ltd. acquired a new stake in shares of Carrizo Oil & Gas during the 2nd quarter worth approximately $1,246,000. Penn Capital Management Co. Inc. acquired a new stake in shares of Carrizo Oil & Gas during the 2nd quarter worth approximately $392,000. Finally, California Public Employees Retirement System grew its holdings in shares of Carrizo Oil & Gas by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 181,100 shares of the oil and gas producer’s stock worth $3,155,000 after purchasing an additional 3,900 shares in the last quarter.
In other Carrizo Oil & Gas news, Director Steven A. Webster bought 75,000 shares of the stock in a transaction on Friday, September 8th. The shares were purchased at an average price of $11.70 per share, with a total value of $877,500.00. Following the acquisition, the director now directly owns 2,786,310 shares of the company’s stock, valued at approximately $32,599,827. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven A. Webster bought 25,000 shares of the stock in a transaction on Monday, August 28th. The stock was acquired at an average cost of $12.67 per share, for a total transaction of $316,750.00. Following the acquisition, the director now directly owns 2,826,310 shares in the company, valued at $35,809,347.70. The disclosure for this purchase can be found here. In the last three months, insiders have bought 175,000 shares of company stock worth $2,104,000. 6.00% of the stock is currently owned by insiders.
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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