Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) – Williams Capital dropped their FY2017 earnings estimates for shares of Carrizo Oil & Gas in a report released on Monday. Williams Capital analyst G. Sorbara now expects that the oil and gas producer will post earnings of $1.35 per share for the year, down from their previous estimate of $1.66. Williams Capital currently has a “Buy” rating and a $42.00 price target on the stock. Williams Capital also issued estimates for Carrizo Oil & Gas’ FY2018 earnings at $2.25 EPS and FY2019 earnings at $3.74 EPS.

Other analysts have also issued reports about the company. Seaport Global Securities raised Carrizo Oil & Gas from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Royal Bank Of Canada reissued a “buy” rating and issued a $43.00 price objective on shares of Carrizo Oil & Gas in a report on Tuesday, April 25th. Robert W. Baird dropped their price objective on Carrizo Oil & Gas from $50.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, May 24th. Jefferies Group LLC set a $36.00 price objective on Carrizo Oil & Gas and gave the company a “buy” rating in a report on Wednesday, May 17th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $38.00 price objective on shares of Carrizo Oil & Gas in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $44.19.

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

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Carrizo Oil & Gas (NASDAQ CRZO) opened at 18.715 on Thursday. The company’s 50 day moving average price is $22.98 and its 200-day moving average price is $30.73. The company’s market capitalization is $1.23 billion. Carrizo Oil & Gas has a 52 week low of $18.31 and a 52 week high of $43.96.

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

In related news, CFO David L. Pitts sold 17,365 shares of the business’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $28.16, for a total transaction of $488,998.40. Following the completion of the transaction, the chief financial officer now directly owns 57,138 shares of the company’s stock, valued at approximately $1,609,006.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider S P. Iv Johnson sold 48,947 shares of the business’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $28.16, for a total value of $1,378,347.52. Following the transaction, the insider now directly owns 177,367 shares of the company’s stock, valued at $4,994,654.72. The disclosure for this sale can be found here. Insiders sold a total of 152,678 shares of company stock worth $4,284,690 in the last quarter. Company insiders own 6.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRZO. Point72 Asia Hong Kong Ltd boosted its position in Carrizo Oil & Gas by 1,014.9% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,523 shares of the oil and gas producer’s stock valued at $101,000 after buying an additional 3,207 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in Carrizo Oil & Gas by 33.7% in the first quarter. Glen Harbor Capital Management LLC now owns 3,892 shares of the oil and gas producer’s stock valued at $112,000 after buying an additional 980 shares in the last quarter. Elkfork Partners LLC acquired a new position in Carrizo Oil & Gas during the fourth quarter valued at about $132,000. Ameritas Investment Partners Inc. acquired a new position in Carrizo Oil & Gas during the first quarter valued at about $150,000. Finally, State of Alaska Department of Revenue boosted its position in Carrizo Oil & Gas by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 6,760 shares of the oil and gas producer’s stock valued at $193,000 after buying an additional 120 shares in the last quarter.

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.

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