Carrizo Oil & Gas Inc (NASDAQ:CRZO)’s stock price gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $6.14, but opened at $6.35. Carrizo Oil & Gas shares last traded at $6.54, with a volume of 7,148,100 shares changing hands.
Specifically, CEO S P. Iv Johnson sold 8,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.83, for a total transaction of $78,640.00. Following the completion of the transaction, the chief executive officer now owns 171,221 shares in the company, valued at approximately $1,683,102.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven A. Webster acquired 50,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $6.47 per share, with a total value of $323,500.00. Following the transaction, the director now owns 2,849,941 shares in the company, valued at approximately $18,439,118.27. The disclosure for this purchase can be found here. 4.80% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently issued reports on the stock. ValuEngine upgraded shares of Carrizo Oil & Gas from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Wells Fargo & Co cut their price target on shares of Carrizo Oil & Gas from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Williams Capital downgraded shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Piper Jaffray Companies set a $15.00 price target on shares of Carrizo Oil & Gas and gave the company a “hold” rating in a report on Friday, August 16th. Finally, BidaskClub downgraded shares of Carrizo Oil & Gas from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $14.35.
The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.42 and a current ratio of 0.42. The company’s fifty day simple moving average is $7.34 and its two-hundred day simple moving average is $8.89. The stock has a market capitalization of $606.13 million, a PE ratio of 2.35, a P/E/G ratio of 0.09 and a beta of 2.12.
Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Carrizo Oil & Gas had a net margin of 61.01% and a return on equity of 19.61%. The company had revenue of $256.99 million for the quarter, compared to analysts’ expectations of $261.67 million. Sell-side analysts forecast that Carrizo Oil & Gas Inc will post 2.52 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in shares of Carrizo Oil & Gas during the 2nd quarter worth about $54,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Carrizo Oil & Gas by 22.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,421 shares of the oil and gas producer’s stock worth $75,000 after purchasing an additional 1,363 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Carrizo Oil & Gas during the 2nd quarter worth about $109,000. Cetera Advisor Networks LLC acquired a new stake in shares of Carrizo Oil & Gas during the 2nd quarter worth about $116,000. Finally, Teton Advisors Inc. acquired a new stake in shares of Carrizo Oil & Gas during the 3rd quarter worth about $107,000.
About Carrizo Oil & Gas (NASDAQ:CRZO)
Carrizo Oil & Gas, Inc, an energy company, explores for, develops, and produces 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 the Eagle Ford Shale in South Texas; and the Permian Basin in West Texas.
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