Carrizo Oil & Gas (NASDAQ:CRZO) Shares Gap Up to $10.35

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Carrizo Oil & Gas Inc (NASDAQ:CRZO)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $10.71, but opened at $10.35. Carrizo Oil & Gas shares last traded at $10.28, with a volume of 104,622 shares changing hands.

A number of research firms recently commented on CRZO. Wells Fargo & Co cut Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research report on Monday, May 20th. Stephens began coverage on Carrizo Oil & Gas in a research report on Thursday, March 28th. They set an “equal weight” rating and a $15.00 price objective for the company. Cowen set a $27.00 price objective on Schnitzer Steel Industries and gave the company a “hold” rating in a research report on Tuesday, April 9th. BidaskClub cut Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Finally, Ifs Securities upgraded SRC Energy from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. Carrizo Oil & Gas presently has a consensus rating of “Hold” and a consensus target price of $22.03.

The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.55. The stock has a 50-day moving average price of $10.05. The company has a market cap of $953.72 million, a price-to-earnings ratio of 3.71, a PEG ratio of 0.13 and a beta of 2.14.

Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. The business had revenue of $233.04 million during the quarter, compared to analysts’ expectations of $228.41 million. Carrizo Oil & Gas had a return on equity of 32.14% and a net margin of 49.20%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 earnings per share. As a group, analysts predict that Carrizo Oil & Gas Inc will post 2.87 earnings per share for the current year.

In other news, insider S P. Iv Johnson sold 8,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $12.45, for a total value of $99,600.00. Following the completion of the transaction, the insider now owns 203,221 shares of the company’s stock, valued at $2,530,101.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 24,000 shares of company stock valued at $275,040. Corporate insiders own 4.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRZO. Clearbridge Investments LLC bought a new position in shares of Carrizo Oil & Gas in the first quarter worth about $14,487,000. Ellis Investment Partners LLC boosted its stake in shares of Carrizo Oil & Gas by 1,434.8% in the first quarter. Ellis Investment Partners LLC now owns 1,119,656 shares of the oil and gas producer’s stock worth $1,119,000 after acquiring an additional 1,046,705 shares during the period. Norges Bank bought a new position in shares of Carrizo Oil & Gas in the fourth quarter worth about $10,299,000. Macquarie Group Ltd. boosted its stake in shares of Carrizo Oil & Gas by 20.7% in the fourth quarter. Macquarie Group Ltd. now owns 3,398,233 shares of the oil and gas producer’s stock worth $38,367,000 after acquiring an additional 583,225 shares during the period. Finally, Tributary Capital Management LLC boosted its stake in shares of Carrizo Oil & Gas by 41.4% in the first quarter. Tributary Capital Management LLC now owns 1,078,899 shares of the oil and gas producer’s stock worth $13,454,000 after acquiring an additional 315,622 shares during the period.

About Carrizo Oil & Gas (NASDAQ:CRZO)

Carrizo Oil & Gas, Inc, an energy company, explores for, develops, and produces 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 the Eagle Ford Shale in South Texas; and the Permian Basin in West Texas.

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