Carrizo Oil & Gas Inc (CRZO) was Reiterated by Canaccord Genuity to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 44 from a previous price target of $38 . Canaccord Genuity advised their investors in a research report released on Jun 9, 2016.
Many Wall Street Analysts have commented on Carrizo Oil & Gas Inc. Carrizo Oil & Gas Inc was Upgraded by Seaport Global Securities to ” Accumulate” on Jun 7, 2016. Carrizo Oil & Gas Inc was Downgraded by KLR Group to ” Accumulate” on May 24, 2016. Carrizo Oil & Gas Inc was Upgraded by JP Morgan to ” Overweight” on May 13, 2016.
On the company’s financial health, Carrizo Oil & Gas Inc reported $0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.14. The company had revenue of $132.42 million for the quarter, 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.
Carrizo Oil & Gas Inc opened for trading at $39.55 and hit $40.845 on the upside on Tuesday, eventually ending the session at $40.58, with a gain of 5.05% or 1.95 points. The heightened volatility saw the trading volume jump to 14,59,986 shares. Company has a market cap of $2,385 M.
In a different news, on Jun 6, 2016, Roger A Ramsey (director) sold 2,000 shares at $35.80 per share price. According to the SEC, on Jun 6, 2016, Gerald A Morton (General Counsel & VP-Bus Dev) sold 800 shares at $37.83 per share price. On Jun 6, 2016, S P Iv Johnson (President and CEO) sold 6,000 shares at $38.38 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 Companys 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 Companys activities in the Marcellus are conducted through two joint ventures.