Carrizo Oil & Gas Inc (NASDAQ:CRZO) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 8,923,864 shares, a drop of 26.3% from the August 15th total of 12,113,554 shares. Based on an average daily trading volume, of 2,059,575 shares, the days-to-cover ratio is currently 4.3 days. Currently, 10.2% of the shares of the company are sold short.
NASDAQ:CRZO traded up $0.30 during trading hours on Tuesday, hitting $23.95. 1,927,400 shares of the company’s stock traded hands, compared to its average volume of 2,954,126. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 16.71 and a beta of 2.18. Carrizo Oil & Gas has a 52 week low of $13.49 and a 52 week high of $31.57. The company has a debt-to-equity ratio of 3.52, a quick ratio of 0.26 and a current ratio of 0.26.
Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings data on Monday, August 6th. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.12. The company had revenue of $264.00 million during the quarter, compared to analyst estimates of $230.08 million. Carrizo Oil & Gas had a return on equity of 52.59% and a net margin of 5.84%. The firm’s quarterly revenue was up 58.6% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. Equities analysts forecast that Carrizo Oil & Gas will post 3 earnings per share for the current fiscal year.
A number of analysts have issued reports on the company. Oppenheimer assumed coverage on Carrizo Oil & Gas in a research report on Wednesday, October 3rd. They issued a “market perform” rating for the company. BidaskClub lowered Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. ValuEngine lowered Carrizo Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Raymond James raised their price target on Carrizo Oil & Gas from $43.00 to $44.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 6th. Finally, KLR Group reaffirmed a “buy” rating and issued a $35.00 price target on shares of Carrizo Oil & Gas in a report on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $29.58.
In other Carrizo Oil & Gas news, insider S P. Iv Johnson sold 8,000 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $23.82, for a total value of $190,560.00. Following the completion of the sale, the insider now directly owns 171,076 shares of the company’s stock, valued at $4,075,030.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 24,000 shares of company stock valued at $590,400 over the last three months. Company insiders own 5.40% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Boston Partners bought a new stake in Carrizo Oil & Gas during the second quarter valued at $1,029,000. US Bancorp DE lifted its stake in Carrizo Oil & Gas by 11.3% during the second quarter. US Bancorp DE now owns 57,858 shares of the oil and gas producer’s stock worth $1,610,000 after purchasing an additional 5,853 shares during the last quarter. Tanaka Capital Management Inc. bought a new stake in Carrizo Oil & Gas during the second quarter worth about $838,000. Engineers Gate Manager LP bought a new stake in Carrizo Oil & Gas during the second quarter worth about $3,693,000. Finally, LSV Asset Management lifted its stake in Carrizo Oil & Gas by 18.8% during the second quarter. LSV Asset Management now owns 4,082,450 shares of the oil and gas producer’s stock worth $113,696,000 after purchasing an additional 645,350 shares during the last quarter.
About Carrizo Oil & Gas
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.
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