KeyCorp Equities Analysts Cut Earnings Estimates for Carrizo Oil & Gas Inc (CRZO)

Carrizo Oil & Gas Inc (NASDAQ:CRZO) – Equities research analysts at KeyCorp decreased their Q1 2017 EPS estimates for Carrizo Oil & Gas in a research note issued on Tuesday. KeyCorp analyst C. Stevens now anticipates that the oil and gas producer will earn $0.21 per share for the quarter, down from their prior forecast of $0.22. KeyCorp also issued estimates for Carrizo Oil & Gas’ Q2 2017 earnings at $0.30 EPS, Q3 2017 earnings at $0.55 EPS, Q4 2017 earnings at $0.70 EPS, FY2017 earnings at $1.75 EPS, Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.87 EPS, Q3 2018 earnings at $0.99 EPS, Q4 2018 earnings at $1.07 EPS and FY2018 earnings at $3.63 EPS.

CRZO has been the subject of several other reports. Scotiabank set a $48.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a report on Monday, March 27th. FBR & Co reaffirmed an “outperform” rating and issued a $42.00 price objective (down from $47.00) on shares of Carrizo Oil & Gas in a report on Friday, February 24th. Zacks Investment Research downgraded shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Monday, February 6th. Royal Bank of Canada reissued a “buy” rating and issued a $47.00 price target on shares of Carrizo Oil & Gas in a report on Friday, March 31st. Finally, Seaport Global Securities raised shares of Carrizo Oil & Gas from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Carrizo Oil & Gas has a consensus rating of “Buy” and a consensus price target of $46.00.

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

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Shares of Carrizo Oil & Gas (NASDAQ:CRZO) opened at 25.33 on Friday. The company’s market cap is $1.65 billion. The stock’s 50 day moving average price is $28.33 and its 200-day moving average price is $35.00. Carrizo Oil & Gas has a one year low of $25.26 and a one year high of $43.96.

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Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings results on Thursday, February 23rd. The oil and gas producer reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.13. Carrizo Oil & Gas had a positive return on equity of 85.42% and a negative net margin of 264.25%. The business earned $143.80 million during the quarter, compared to analysts’ expectations of $152.69 million. During the same quarter last year, the company posted $0.32 earnings per share. Carrizo Oil & Gas’s quarterly revenue was up 44.7% on a year-over-year basis.

Several hedge funds have recently bought and sold shares of CRZO. BlackRock Investment Management LLC boosted its position in shares of Carrizo Oil & Gas by 0.4% in the third quarter. BlackRock Investment Management LLC now owns 495,933 shares of the oil and gas producer’s stock worth $20,145,000 after buying an additional 1,785 shares during the last quarter. Oxford Asset Management acquired a new position in shares of Carrizo Oil & Gas during the fourth quarter worth approximately $3,143,000. William Blair Investment Management LLC boosted its position in shares of Carrizo Oil & Gas by 1.6% in the fourth quarter. William Blair Investment Management LLC now owns 1,310,525 shares of the oil and gas producer’s stock worth $48,948,000 after buying an additional 20,912 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Carrizo Oil & Gas by 8.1% in the third quarter. BlackRock Fund Advisors now owns 3,959,774 shares of the oil and gas producer’s stock worth $160,846,000 after buying an additional 295,678 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in shares of Carrizo Oil & Gas by 8.7% in the fourth quarter. Frontier Capital Management Co. LLC now owns 4,179,959 shares of the oil and gas producer’s stock worth $156,121,000 after buying an additional 334,861 shares during the last quarter.

In other news, insider S P. Iv Johnson sold 48,947 shares of the firm’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $28.16, for a total transaction of $1,378,347.52. Following the sale, the insider now owns 177,367 shares in the company, valued at approximately $4,994,654.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Gerald A. Morton sold 1,632 shares of the firm’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $26.92, for a total transaction of $43,933.44. Following the sale, the general counsel now owns 88,360 shares in the company, valued at approximately $2,378,651.20. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 90,830 shares of company stock worth $2,736,072 and have sold 161,878 shares worth $4,610,778. Company insiders own 6.30% of the company’s stock.

About Carrizo Oil & Gas

Carrizo Oil & Gas, Inc 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 Delaware Basin in West Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado, and the Marcellus Shale in Pennsylvania.

5 Day Chart for NASDAQ:CRZO

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