FY2018 Earnings Estimate for Carrizo Oil & Gas Inc Issued By Piper Jaffray Companies (CRZO)

Carrizo Oil & Gas Inc (NASDAQ:CRZO) – Stock analysts at Piper Jaffray Companies lowered their FY2018 earnings estimates for Carrizo Oil & Gas in a report issued on Wednesday, January 9th. Piper Jaffray Companies analyst K. Harrison now anticipates that the oil and gas producer will post earnings per share of $3.02 for the year, down from their prior forecast of $3.23. Piper Jaffray Companies also issued estimates for Carrizo Oil & Gas’ Q1 2019 earnings at $0.47 EPS, Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $0.63 EPS, FY2019 earnings at $2.19 EPS, Q1 2020 earnings at $0.57 EPS, Q2 2020 earnings at $0.59 EPS, Q3 2020 earnings at $0.61 EPS, Q4 2020 earnings at $0.63 EPS and FY2020 earnings at $2.40 EPS.

Carrizo Oil & Gas (NASDAQ:CRZO) last released its earnings results on Monday, November 5th. The oil and gas producer reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.15. Carrizo Oil & Gas had a net margin of 12.23% and a return on equity of 56.06%. The firm had revenue of $303.40 million during the quarter, compared to analyst estimates of $265.34 million. During the same quarter in the previous year, the business earned $0.33 EPS. The business’s quarterly revenue was up 67.3% compared to the same quarter last year.

Other equities analysts have also issued research reports about the stock. Oppenheimer assumed coverage on shares of Carrizo Oil & Gas in a report on Wednesday, October 3rd. They issued a “market perform” rating for the company. BidaskClub cut shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Jefferies Financial Group raised shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Monday, October 15th. MKM Partners initiated coverage on shares of Carrizo Oil & Gas in a research report on Wednesday, December 5th. They set a “buy” rating and a $27.00 price target on the stock. Finally, Williams Capital set a $22.00 price target on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a research report on Wednesday, December 12th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Carrizo Oil & Gas has an average rating of “Hold” and a consensus target price of $27.63.

Shares of CRZO stock opened at $12.64 on Friday. Carrizo Oil & Gas has a 12-month low of $9.67 and a 12-month high of $31.57. The firm has a market capitalization of $1.18 billion, a PE ratio of 8.84 and a beta of 2.47. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.27 and a quick ratio of 0.27.

In other news, insider S P. Iv Johnson sold 8,000 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $22.32, for a total value of $178,560.00. Following the sale, the insider now directly owns 163,076 shares of the company’s stock, valued at approximately $3,639,856.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 24,000 shares of company stock worth $418,800. 5.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of Carrizo Oil & Gas by 6.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 410,167 shares of the oil and gas producer’s stock worth $11,424,000 after acquiring an additional 25,078 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Carrizo Oil & Gas by 7.3% during the second quarter. BlackRock Inc. now owns 10,880,198 shares of the oil and gas producer’s stock worth $303,014,000 after acquiring an additional 736,153 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Carrizo Oil & Gas by 5.9% during the second quarter. Legal & General Group Plc now owns 168,511 shares of the oil and gas producer’s stock worth $4,701,000 after acquiring an additional 9,444 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of Carrizo Oil & Gas during the second quarter worth $301,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Carrizo Oil & Gas by 91.0% during the second quarter. PNC Financial Services Group Inc. now owns 5,625 shares of the oil and gas producer’s stock worth $156,000 after acquiring an additional 2,680 shares in the last quarter.

Carrizo Oil & Gas Company Profile

Carrizo Oil & Gas, Inc, together with its subsidiaries, engages in the exploration, development, and production of crude oil, natural gas liquids, and gas from resource plays primarily in the United States. The company holds interests in oil and gas plays, including Eagle Ford Shale in South Texas; and the Delaware Basin in West Texas.

See Also: Correction

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

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