KeyCorp Comments on Carrizo Oil & Gas, Inc.’s Q4 2017 Earnings (CRZO)
Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) – Equities researchers at KeyCorp lifted their Q4 2017 earnings per share (EPS) estimates for shares of Carrizo Oil & Gas in a report released on Thursday. KeyCorp analyst C. Stevens now anticipates that the oil and gas producer will post earnings per share of $0.43 for the quarter, up from their previous estimate of $0.41. KeyCorp also issued estimates for Carrizo Oil & Gas’ Q1 2018 earnings at $0.29 EPS, Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.45 EPS and FY2018 earnings at $1.75 EPS.
A number of other analysts also recently weighed in on CRZO. Zacks Investment Research upgraded Carrizo Oil & Gas from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. BMO Capital Markets set a $20.00 target price on Carrizo Oil & Gas and gave the stock a “buy” rating in a research report on Saturday, August 12th. Piper Jaffray Companies dropped their target price on Carrizo Oil & Gas from $43.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, September 18th. Citigroup Inc. initiated coverage on Carrizo Oil & Gas in a research report on Monday, September 18th. They issued a “neutral” rating and a $16.00 target price for the company. Finally, BidaskClub downgraded Carrizo Oil & Gas from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Carrizo Oil & Gas has a consensus rating of “Hold” and a consensus price target of $35.56.
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Carrizo Oil & Gas (NASDAQ CRZO) opened at 16.965 on Friday. The firm’s market cap is $1.38 billion. The stock has a 50 day moving average price of $14.25 and a 200 day moving average price of $19.50. Carrizo Oil & Gas has a 1-year low of $11.10 and a 1-year high of $43.96.
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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Carrizo Oil & Gas had a positive return on equity of 1,494.45% and a negative net margin of 0.98%. The company had revenue of $166.50 million during the quarter, compared to the consensus estimate of $163.22 million. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The firm’s revenue was up 55.2% compared to the same quarter last year.
In other Carrizo Oil & Gas news, Director Steven A. Webster purchased 75,000 shares of the stock in a transaction dated Monday, August 14th. The shares were purchased 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 directly owns 2,724,410 shares in the company, valued at approximately $37,842,054.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven A. Webster purchased 29,700 shares of the stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average cost of $13.36 per share, for a total transaction of $396,792.00. Following the completion of the acquisition, the director now owns 2,724,410 shares of the company’s stock, valued at $36,398,117.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 431,600 shares of company stock worth $5,602,306. Corporate insiders own 6.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC lifted its holdings in 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 during the period. Phocas Financial Corp. lifted its holdings in Carrizo Oil & Gas by 4.7% in the second quarter. Phocas Financial Corp. now owns 212,352 shares of the oil and gas producer’s stock valued at $3,699,000 after acquiring an additional 9,481 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in Carrizo Oil & Gas by 260.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 102,641 shares of the oil and gas producer’s stock valued at $1,787,000 after acquiring an additional 74,193 shares during the period. Verition Fund Management LLC bought a new position in Carrizo Oil & Gas in the second quarter valued at about $467,000. Finally, Piedmont Investment Advisors LLC bought a new position in Carrizo Oil & Gas in the second quarter valued at about $288,000.
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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