Zacks: Brokerages Expect Carrizo Oil & Gas Inc (CRZO) Will Post Quarterly Sales of $278.56 Million

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Analysts expect Carrizo Oil & Gas Inc (NASDAQ:CRZO) to announce $278.56 million in sales for the current quarter, Zacks reports. Nine analysts have provided estimates for Carrizo Oil & Gas’ earnings. The lowest sales estimate is $258.00 million and the highest is $295.00 million. Carrizo Oil & Gas posted sales of $181.28 million in the same quarter last year, which suggests a positive year over year growth rate of 53.7%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Carrizo Oil & Gas will report full year sales of $1.05 billion for the current year, with estimates ranging from $935.00 million to $1.12 billion. For the next year, analysts expect that the firm will report sales of $1.33 billion, with estimates ranging from $1.21 billion to $1.48 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Carrizo Oil & Gas.

Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings data on Monday, August 6th. The oil and gas producer reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.12. Carrizo Oil & Gas had a net margin of 5.84% and a return on equity of 52.59%. The business had revenue of $264.00 million for the quarter, compared to the consensus estimate of $230.08 million. During the same period in the prior year, the firm earned $0.30 earnings per share. The company’s revenue was up 58.6% compared to the same quarter last year.

CRZO has been the topic of a number of recent analyst reports. Williams Capital reissued a “buy” rating and issued a $41.00 price target on shares of Carrizo Oil & Gas in a report on Monday, July 23rd. BidaskClub raised shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating in a report on Wednesday, September 26th. SunTrust Banks reissued a “buy” rating and issued a $35.00 price target on shares of Carrizo Oil & Gas in a report on Monday, August 20th. KLR Group reissued a “buy” rating and issued a $35.00 price target on shares of Carrizo Oil & Gas in a report on Monday, August 20th. Finally, Johnson Rice raised shares of Carrizo Oil & Gas from an “accumulate” rating to a “buy” rating in a report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $29.58.

In related news, insider S P. Iv Johnson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $27.43, for a total value of $219,440.00. Following the sale, the insider now directly owns 187,076 shares of the company’s stock, valued at $5,131,494.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Bradley Fisher sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $25.01, for a total transaction of $187,575.00. Following the completion of the sale, the chief operating officer now directly owns 157,436 shares in the company, valued at $3,937,474.36. The disclosure for this sale can be found here. Insiders sold 31,500 shares of company stock worth $777,975 over the last ninety days. 5.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Boston Partners bought a new position in Carrizo Oil & Gas during the second quarter valued at approximately $1,029,000. US Bancorp DE grew its position in Carrizo Oil & Gas by 11.3% during the second quarter. US Bancorp DE now owns 57,858 shares of the oil and gas producer’s stock valued at $1,610,000 after acquiring an additional 5,853 shares during the last quarter. Tanaka Capital Management Inc. bought a new position in Carrizo Oil & Gas during the second quarter valued at approximately $838,000. Engineers Gate Manager LP bought a new position in Carrizo Oil & Gas during the second quarter valued at approximately $3,693,000. Finally, LSV Asset Management grew its position in Carrizo Oil & Gas by 18.8% during the second quarter. LSV Asset Management now owns 4,082,450 shares of the oil and gas producer’s stock valued at $113,696,000 after acquiring an additional 645,350 shares during the last quarter.

Shares of Carrizo Oil & Gas stock traded up $0.34 on Monday, reaching $22.08. The stock had a trading volume of 1,404,673 shares, compared to its average volume of 2,939,034. Carrizo Oil & Gas has a 1 year low of $13.49 and a 1 year high of $31.57. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 15.44 and a beta of 2.18. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 3.52.

About Carrizo Oil & Gas

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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Earnings History and Estimates for Carrizo Oil & Gas (NASDAQ:CRZO)

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