Carrizo Oil & Gas Inc (CRZO) is Upgraded by Seaport Global Securities to Accumulate

Carrizo Oil & Gas Inc (CRZO) was Upgraded by Seaport Global Securities to ” Accumulate”. Earlier the firm had a rating of “Neutral ” on the company shares. Seaport Global Securities advised their investors in a research report released on Jun 7, 2016.

Many Wall Street Analysts have commented on Carrizo Oil & Gas Inc. 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. Company shares were Reiterated by Imperial Capital on May 6, 2016 to “Outperform”, Firm has raised the Price Target to $ 39 from a previous price target of $30 .

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 closed down -0.77 points or -1.99% at $37.86 with 8,53,224 shares getting traded on Friday. Post opening the session at $38.63, the shares hit an intraday low of $37.465 and an intraday high of $39.22 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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 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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