Carrizo Oil & Gas Inc (CRZO) Releases Earnings Results, Beats Expectations By $0.02 EPS

Carrizo Oil & Gas Inc (CRZO) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.16 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.14. The company posted revenue of $132.42 million in the period, compared to analysts expectations of $127.57 million. The company’s revenue was down -11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Many Wall Street Analysts have commented on Carrizo Oil & Gas Inc. Carrizo Oil & Gas Inc was Upgraded by Goldman to ” Buy” on Mar 11, 2016. Shares were Reiterated by Imperial Capital on Feb 24, 2016 to “Outperform” and Lowered the Price Target to $ 30 from a previous price target of $48 .Shares were Reiterated by RBC Capital Mkts on Feb 24, 2016 to “Outperform” and Lowered the Price Target to $ 33 from a previous price target of $34 .

Carrizo Oil & Gas Inc closed down -0.03 points or -0.08% at $35.34 with 12,90,926 shares getting traded on Monday. Post opening the session at $35.32, the shares hit an intraday low of $34.22 and an intraday high of $35.7 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Apr 8, 2016, S P Iv Johnson (President and CEO) sold 6,000 shares at $30.00 per share price. According to the SEC, on Mar 21, 2016, Richard H Smith (Vice President – Land) sold 6,372 shares at $30.58 per share price. On Mar 21, 2016, Gerald A Morton (General Counsel & VP-Bus Dev) sold 5,281 shares at $31.05 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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