Zacks Investment Research lowered shares of Carrizo Oil & Gas (NASDAQ:CRZO) from a buy rating to a hold rating in a research note published on Thursday.

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. “

CRZO has been the subject of a number of other research reports. BMO Capital Markets set a $20.00 price target on Carrizo Oil & Gas and gave the stock a buy rating in a report on Tuesday, October 10th. Jefferies Group cut Carrizo Oil & Gas from a buy rating to a hold rating and reduced their price target for the stock from $25.00 to $16.00 in a report on Monday, October 9th. Mizuho cut Carrizo Oil & Gas from a buy rating to a neutral rating and reduced their price target for the stock from $32.00 to $17.00 in a report on Thursday, September 7th. Royal Bank of Canada reiterated a buy rating and set a $23.00 price target on shares of Carrizo Oil & Gas in a report on Friday, September 15th. Finally, Scotiabank reiterated a buy rating and set a $33.00 price target on shares of Carrizo Oil & Gas in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. Carrizo Oil & Gas currently has an average rating of Hold and a consensus target price of $27.44.

Carrizo Oil & Gas (CRZO) opened at $18.39 on Thursday. Carrizo Oil & Gas has a 1-year low of $11.10 and a 1-year high of $40.14. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 4.38. The company has a market capitalization of $1,497.96, a PE ratio of 14.71 and a beta of 2.18.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $0.33 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $177.97 million. During the same quarter last year, the company posted $0.23 earnings per share. Carrizo Oil & Gas’s quarterly revenue was up 63.1% on a year-over-year basis. analysts forecast that Carrizo Oil & Gas will post 1.35 EPS for the current fiscal year.

In other Carrizo Oil & Gas news, insider S P. Iv Johnson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $18.69, for a total transaction of $149,520.00. Following the completion of the sale, the insider now directly owns 231,194 shares in the company, valued at $4,321,015.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan raised its position in shares of Carrizo Oil & Gas by 4.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,620 shares of the oil and gas producer’s stock valued at $255,000 after buying an additional 630 shares in the last quarter. Texas Permanent School Fund raised its position in shares of Carrizo Oil & Gas by 1.9% in the second quarter. Texas Permanent School Fund now owns 45,163 shares of the oil and gas producer’s stock valued at $787,000 after buying an additional 838 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Carrizo Oil & Gas by 2.9% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 33,911 shares of the oil and gas producer’s stock valued at $591,000 after buying an additional 950 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Carrizo Oil & Gas by 15.0% in the second quarter. Van ECK Associates Corp now owns 9,028 shares of the oil and gas producer’s stock valued at $157,000 after buying an additional 1,177 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of Carrizo Oil & Gas by 0.9% in the second quarter. Eagle Asset Management Inc. now owns 143,540 shares of the oil and gas producer’s stock valued at $2,500,000 after buying an additional 1,320 shares in the last quarter.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.watchlistnews.com/zacks-investment-research-lowers-carrizo-oil-gas-crzo-to-hold/1771342.html.

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.

Get a free copy of the Zacks research report on Carrizo Oil & Gas (CRZO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Carrizo Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carrizo Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.