FY2017 Earnings Estimate for Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) Issued By SunTrust Banks
Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) – Research analysts at SunTrust Banks lifted their FY2017 earnings estimates for shares of Carrizo Oil & Gas in a research note issued to investors on Tuesday. SunTrust Banks analyst N. Dingmann now expects that the oil and gas producer will post earnings per share of $1.13 for the year, up from their prior forecast of $1.09. SunTrust Banks also issued estimates for Carrizo Oil & Gas’ FY2018 earnings at $1.65 EPS, FY2019 earnings at $2.47 EPS and FY2020 earnings at $2.77 EPS.
Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $43.00 target price on shares of Carrizo Oil & Gas in a research report on Tuesday, April 25th. Williams Capital reaffirmed a “buy” rating and issued a $42.00 target price on shares of Carrizo Oil & Gas in a research report on Tuesday, May 9th. Jefferies Group LLC set a $36.00 target price on Carrizo Oil & Gas and gave the company a “buy” rating in a research report on Wednesday, May 17th. Robert W. Baird decreased their target price on Carrizo Oil & Gas from $50.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 24th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $38.00 target price on shares of Carrizo Oil & Gas in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $40.33.
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Shares of Carrizo Oil & Gas (CRZO) traded up 0.22% during trading on Friday, hitting $13.84. 387,991 shares of the stock were exchanged. The stock’s 50 day moving average price is $15.72 and its 200 day moving average price is $24.67. Carrizo Oil & Gas has a one year low of $12.73 and a one year high of $43.96. The stock’s market cap is $911.16 million.
Carrizo Oil & Gas (NASDAQ:CRZO) last announced its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $166.50 million for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 55.2% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share.
In other news, Director Frank A. Wojtek sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $24.24, for a total value of $67,872.00. Following the completion of the sale, the director now directly owns 30,008 shares in the company, valued at approximately $727,393.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of CRZO. Point72 Asia Hong Kong Ltd boosted its position in Carrizo Oil & Gas by 1,014.9% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,523 shares of the oil and gas producer’s stock valued at $101,000 after buying an additional 3,207 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in Carrizo Oil & Gas by 33.7% in the first quarter. Glen Harbor Capital Management LLC now owns 3,892 shares of the oil and gas producer’s stock worth $112,000 after buying an additional 980 shares during the period. Elkfork Partners LLC boosted its stake in Carrizo Oil & Gas by 33.7% in the first quarter. Elkfork Partners LLC now owns 4,726 shares of the oil and gas producer’s stock worth $135,000 after buying an additional 1,190 shares during the period. Kings Point Capital Management boosted its stake in Carrizo Oil & Gas by 220.0% in the second quarter. Kings Point Capital Management now owns 8,000 shares of the oil and gas producer’s stock worth $139,000 after buying an additional 5,500 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new stake in Carrizo Oil & Gas during the first quarter worth approximately $150,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.
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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