Carrizo Oil & Gas Target of Unusually High Options Trading (NASDAQ:CRZO)

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Carrizo Oil & Gas Inc (NASDAQ:CRZO) was the target of some unusual options trading activity on Wednesday. Traders bought 21,199 call options on the stock. This is an increase of 1,283% compared to the average daily volume of 1,533 call options.

CRZO stock opened at $10.31 on Friday. Carrizo Oil & Gas has a 52 week low of $8.64 and a 52 week high of $29.58. The company has a market cap of $953.72 million, a P/E ratio of 3.71, a price-to-earnings-growth ratio of 0.13 and a beta of 2.14. The stock’s 50-day moving average is $10.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.26 and a quick ratio of 0.26.

Carrizo Oil & Gas (NASDAQ:CRZO) last released 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. Carrizo Oil & Gas had a net margin of 49.20% and a return on equity of 32.14%. The company had revenue of $233.04 million for the quarter, compared to the consensus estimate of $228.41 million. During the same period in the previous year, the firm earned $0.48 EPS. Carrizo Oil & Gas’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Carrizo Oil & Gas will post 2.87 EPS for the current year.

A number of research firms have issued reports on CRZO. Wells Fargo & Co lowered shares of Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research note on Monday, May 20th. Zacks Investment Research lowered shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. BidaskClub lowered shares of Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. Cowen set a $27.00 target price on shares of Schnitzer Steel Industries and gave the company a “hold” rating in a research note on Tuesday, April 9th. Finally, Capital One Financial lowered shares of Cimarex Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 20th. Two 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’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.03.

In other news, insider S P. Iv Johnson sold 8,000 shares of Carrizo Oil & Gas stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $9.15, for a total value of $73,200.00. Following the completion of the transaction, the insider now directly owns 195,221 shares of the company’s stock, valued at approximately $1,786,272.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 24,000 shares of company stock valued at $275,040 over the last ninety days. Company insiders own 4.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CRZO. Mason Street Advisors LLC raised its holdings in shares of Carrizo Oil & Gas by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 27,367 shares of the oil and gas producer’s stock worth $341,000 after purchasing an additional 904 shares in the last quarter. Piedmont Investment Advisors Inc. raised its holdings in shares of Carrizo Oil & Gas by 5.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 21,513 shares of the oil and gas producer’s stock worth $268,000 after purchasing an additional 1,196 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Carrizo Oil & Gas by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 59,416 shares of the oil and gas producer’s stock worth $671,000 after purchasing an additional 1,306 shares in the last quarter. Flinton Capital Management LLC raised its holdings in shares of Carrizo Oil & Gas by 23.3% in the 4th quarter. Flinton Capital Management LLC now owns 10,000 shares of the oil and gas producer’s stock worth $113,000 after purchasing an additional 1,888 shares in the last quarter. Finally, Cypress Capital Management LLC WY raised its holdings in shares of Carrizo Oil & Gas by 37.3% in the 1st quarter. Cypress Capital Management LLC WY now owns 7,000 shares of the oil and gas producer’s stock worth $87,000 after purchasing an additional 1,900 shares in the last quarter.

About Carrizo Oil & Gas

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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