Carrizo Oil & Gas (CRZO) Shares Gap Down to $22.90

Carrizo Oil & Gas Inc (NASDAQ:CRZO) gapped down prior to trading on Thursday . The stock had previously closed at $22.57, but opened at $22.90. Carrizo Oil & Gas shares last traded at $22.65, with a volume of 88907 shares traded.

Several equities research analysts recently commented on the stock. Williams Capital set a $41.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, August 9th. Johnson Rice upgraded shares of Carrizo Oil & Gas from an “accumulate” rating to a “buy” rating in a research report on Wednesday, August 8th. Stifel Nicolaus boosted their price objective on shares of Carrizo Oil & Gas from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, BidaskClub lowered shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $27.83.

The firm has a market cap of $2.03 billion, a PE ratio of 16.06 and a beta of 2.15. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 3.52.

Carrizo Oil & Gas (NASDAQ:CRZO) last released its earnings results on Monday, August 6th. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.12. The company had revenue of $264.00 million for the quarter, compared to analyst estimates of $230.08 million. Carrizo Oil & Gas had a net margin of 5.84% and a return on equity of 52.59%. The firm’s quarterly revenue was up 58.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. analysts forecast that Carrizo Oil & Gas Inc will post 3.08 EPS for the current year.

In other news, insider S P. Iv Johnson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 10th. The shares were sold at an average price of $30.02, for a total transaction of $180,120.00. Following the completion of the transaction, the insider now owns 195,076 shares of the company’s stock, valued at approximately $5,856,181.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider S P. Iv Johnson sold 8,000 shares of the company’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $26.15, for a total transaction of $209,200.00. Following the transaction, the insider now directly owns 223,076 shares of the company’s stock, valued at approximately $5,833,437.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,428 shares of company stock valued at $2,144,577. Corporate insiders own 5.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in shares of Carrizo Oil & Gas by 91.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,625 shares of the oil and gas producer’s stock valued at $156,000 after acquiring an additional 2,680 shares during the last quarter. Creative Planning acquired a new stake in Carrizo Oil & Gas during the 2nd quarter worth approximately $222,000. Berkshire Asset Management LLC PA acquired a new stake in Carrizo Oil & Gas during the 2nd quarter worth approximately $252,000. CIBC Asset Management Inc acquired a new stake in Carrizo Oil & Gas during the 2nd quarter worth approximately $278,000. Finally, Miller Investment Management LP acquired a new stake in Carrizo Oil & Gas during the 1st quarter worth approximately $160,000.

About Carrizo Oil & Gas (NASDAQ:CRZO)

Carrizo Oil & Gas, Inc, together with its subsidiaries, engages in the exploration, development, and production of crude oil, natural gas liquids, and gas from resource plays primarily in the United States. The company holds interests in oil and gas plays, including Eagle Ford Shale in South Texas; and the Delaware Basin in West Texas.

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