Carrizo Oil & Gas Inc (CRZO) Releases Earnings Results, Beats Expectations By $0.16 EPS

Carrizo Oil & Gas Inc (CRZO) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.29 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.16. Analysts had a consensus of $0.13. The company posted revenue of $107.30 million in the period, compared to analysts expectations of $123.41 million. The company’s revenue was down -13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Carrizo Oil & Gas Inc. Company shares were Upgraded by KLR Group on Jul 18, 2016 to ” Buy”, Firm has raised the Price Target to $ 49 from a previous price target of $41 .Stifel Initiated Carrizo Oil & Gas Inc on Jun 17, 2016 to “Buy”, Price Target of the shares are set at $48.Company shares were Reiterated by Canaccord Genuity on Jun 9, 2016 to “Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $38 .

Carrizo Oil & Gas Inc opened for trading at $30.3 and hit $30.9039 on the upside on Tusday, eventually ending the session at $30.56, with a gain of 2.24% or 0.67 points. The heightened volatility saw the trading volume jump to 18,70,876 shares. Company has a market cap of $1,796 M.

In a different news, on Jul 11, 2016, Roger A Ramsey (director) sold 1,000 shares at $35.54 per share price. According to the SEC, on Jul 11, 2016, S P Iv Johnson (President and CEO) sold 6,000 shares at $35.03 per share price. On Jun 6, 2016, Gerald A Morton (General Counsel & VP-Bus Dev) sold 800 shares at $37.83 per share price, according to the Form-4 filing with the securities and exchange commission.

Carrizo Oil & Gas Inc. (Carrizo) 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 Utica Shale in Ohio the Niobrara Formation in Colorado and the Marcellus Shale in Pennsylvania. The Company’s core Eagle Ford properties are located in LaSalle County in McMullen Frio and Atascosa counties in Texas. It has joint venture arrangements with GAIL GLOBAL (USA) INC. (GAIL) which is a wholly owned subsidiary of GAIL (India) Limited. The Company serves as an operator of the properties covered by its Niobrara joint venture arrangements. The Company’s activities in the Marcellus are conducted through two joint ventures.

Carrizo Oil & Gas Inc

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