Equities Analysts Offer Predictions for Carrizo Oil & Gas, Inc.’s Q2 2017 Earnings (CRZO)

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) – Research analysts at Seaport Global Securities lifted their Q2 2017 EPS estimates for shares of Carrizo Oil & Gas in a report released on Thursday. Seaport Global Securities analyst M. Kelly now expects that the oil and gas producer will post earnings of $0.21 per share for the quarter, up from their prior forecast of $0.18. Seaport Global Securities has a “Sell” rating on the stock. Seaport Global Securities also issued estimates for Carrizo Oil & Gas’ Q1 2018 earnings at ($0.14) EPS, Q2 2018 earnings at ($0.12) EPS and FY2018 earnings at ($0.20) EPS.

Carrizo Oil & Gas (NASDAQ:CRZO) last announced its earnings results on Tuesday, May 9th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.05. Carrizo Oil & Gas had a negative net margin of 63.08% and a negative return on equity of 128.17%. The company had revenue of $151.36 million for the quarter, compared to analyst estimates of $147.19 million. During the same period in the prior year, the business earned $0.16 earnings per share. Carrizo Oil & Gas’s quarterly revenue was up 86.3% on a year-over-year basis.

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Several other research firms also recently commented on CRZO. Williams Capital assumed coverage on shares of Carrizo Oil & Gas in a report on Monday, March 20th. They set a “buy” rating and a $44.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $47.00 price objective on shares of Carrizo Oil & Gas in a report on Friday, March 31st. Scotiabank set a $48.00 price objective on shares of Carrizo Oil & Gas and gave the company a “buy” rating in a report on Monday, March 27th. Robert W. Baird dropped their price objective on shares of Carrizo Oil & Gas from $50.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, May 24th. Finally, Jefferies Group LLC set a $36.00 price objective on shares of Carrizo Oil & Gas and gave the company a “buy” rating in a report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $41.88.

Carrizo Oil & Gas (NASDAQ CRZO) opened at 18.40 on Monday. Carrizo Oil & Gas has a 12 month low of $15.05 and a 12 month high of $43.96. The firm’s market capitalization is $1.21 billion. The stock’s 50 day moving average is $20.83 and its 200-day moving average is $29.16.

A number of hedge funds and other institutional investors have recently modified their holdings of CRZO. BlackRock Inc. boosted its position in shares of Carrizo Oil & Gas by 20,572.2% in the first quarter. BlackRock Inc. now owns 8,555,207 shares of the oil and gas producer’s stock worth $245,193,000 after buying an additional 8,513,822 shares during the last quarter. Caymus Capital Partners L.P. boosted its position in shares of Carrizo Oil & Gas by 978.3% in the first quarter. Caymus Capital Partners L.P. now owns 1,401,800 shares of the oil and gas producer’s stock worth $40,176,000 after buying an additional 1,271,800 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Carrizo Oil & Gas by 7,755.6% in the first quarter. Mackenzie Financial Corp now owns 707,000 shares of the oil and gas producer’s stock worth $20,263,000 after buying an additional 698,000 shares during the last quarter. State Street Corp boosted its position in shares of Carrizo Oil & Gas by 17.9% in the first quarter. State Street Corp now owns 2,964,206 shares of the oil and gas producer’s stock worth $84,959,000 after buying an additional 450,443 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Carrizo Oil & Gas by 6.2% in the first quarter. Vanguard Group Inc. now owns 6,022,707 shares of the oil and gas producer’s stock worth $172,611,000 after buying an additional 350,219 shares during the last quarter.

In related news, insider S P. Iv Johnson sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $30.00, for a total value of $180,000.00. Following the transaction, the insider now directly owns 239,194 shares in the company, valued at $7,175,820. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frank A. Wojtek sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $24.24, for a total transaction of $67,872.00. Following the completion of the transaction, the director now owns 30,008 shares in the company, valued at $727,393.92. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

About Carrizo Oil & Gas

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.

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

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