The stock of Carrizo Oil & Gas Inc (NASDAQ:CRZO) hit a new 52-week high and has $45.43 target or 6.00% above today’s $42.86 share price. The 9 months bullish chart indicates low risk for the $3.36B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $45.43 price target is reached, the company will be worth $201.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.32M shares traded hands. Carrizo Oil & Gas Inc (NASDAQ:CRZO) has risen 18.80% since April 28, 2016 and is uptrending. It has outperformed by 12.87% the S&P500.
Analysts await Carrizo Oil & Gas Inc (NASDAQ:CRZO) to report earnings on February, 27. They expect $0.32 EPS, 0.00% or $0.00 from last year’s $0.32 per share. CRZO’s profit will be $25.09 million for 33.48 P/E if the $0.32 EPS becomes a reality. After $0.23 actual EPS reported by Carrizo Oil & Gas Inc for the previous quarter, Wall Street now forecasts 39.13% EPS growth.
Carrizo Oil & Gas Inc (NASDAQ:CRZO) Ratings Coverage
Out of 18 analysts covering Carrizo Oil & Gas Inc. (NASDAQ:CRZO), 14 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 78% are positive. Carrizo Oil & Gas Inc. has been the topic of 59 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Carrizo Oil & Gas Inc (NASDAQ:CRZO) earned “Buy” rating by SunTrust on Thursday, September 3. The firm has “Accumulate” rating by KLR Group given on Monday, August 10. The rating was downgraded by KLR Group on Tuesday, May 24 to “Accumulate”. Credit Suisse upgraded Carrizo Oil & Gas Inc (NASDAQ:CRZO) on Wednesday, July 22 to “Outperform” rating. Canaccord Genuity maintained Carrizo Oil & Gas Inc (NASDAQ:CRZO) on Wednesday, February 24 with “Buy” rating. The firm earned “Outperform” rating on Wednesday, February 24 by RBC Capital Markets. The company was maintained on Friday, August 7 by Northland Capital. BMO Capital Markets maintained Carrizo Oil & Gas Inc (NASDAQ:CRZO) on Friday, September 4 with “Outperform” rating. The firm earned “Buy” rating on Saturday, August 8 by TheStreet. On Tuesday, October 18 the stock rating was downgraded by KLR Group to “Accumulate”.
According to Zacks Investment Research, “Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development, exploitation and production of oil and natural gas primarily in proven trends in the Barnett Shale area in North Texas and along the Texas and Louisiana onshore Gulf Coast regions. Carrizo controls significant prospective acreage blocks and utilizes advanced three-D seismic techniques to identify potential oil and gas reserves and drilling opportunities.”
Insitutional Activity: The institutional sentiment decreased to 1.07 in Q2 2016. Its down 0.02, from 1.09 in 2016Q1. The ratio dived, as 32 funds sold all Carrizo Oil & Gas Inc shares owned while 71 reduced positions. 37 funds bought stakes while 75 increased positions. They now own 62.80 million shares or 1.86% less from 63.99 million shares in 2016Q1.
Advisors Asset Mgmt last reported 62,047 shares in the company. Moreover, Amalgamated Bankshares has 0.01% invested in Carrizo Oil & Gas Inc (NASDAQ:CRZO) for 6,431 shares. Teachers holds 378,438 shares or 0.02% of its portfolio. Teachers Retirement Sys Of The State Of Kentucky last reported 15,100 shares in the company. Guggenheim Ltd last reported 0% of its portfolio in the stock. Carlson Cap Limited Partnership reported 514,912 shares or 0.23% of all its holdings. Alliancebernstein Lp last reported 86,937 shares in the company. Guinness Atkinson Asset Management Incorporated has 0.68% invested in the company for 30,070 shares. Moreover, Mycio Wealth Prns Ltd Llc has 0% invested in Carrizo Oil & Gas Inc (NASDAQ:CRZO) for 83 shares. Geosphere Capital Mngmt reported 140,000 shares or 4.96% of all its holdings. Profund Ltd Liability Com holds 14,834 shares or 0.03% of its portfolio. Teacher Retirement System Of Texas accumulated 0% or 7,739 shares. The California-based Wells Fargo And Mn has invested 0.01% in Carrizo Oil & Gas Inc (NASDAQ:CRZO). Metropolitan Life Insur Company Ny has 40,768 shares for 0.01% of their US portfolio. Axiom Intl Limited Com De accumulated 64,709 shares or 0.07% of the stock.
Insider Transactions: Since June 2, 2016, the stock had 0 buys, and 13 insider sales for $2.85 million net activity. RAMSEY ROGER A sold 1,000 shares worth $41,350. JOHNSON S P IV also sold $230,257 worth of Carrizo Oil & Gas Inc (NASDAQ:CRZO) shares. $59,469 worth of Carrizo Oil & Gas Inc (NASDAQ:CRZO) was sold by WOJTEK FRANK A on Friday, August 5. MORTON GERALD A also sold $30,266 worth of Carrizo Oil & Gas Inc (NASDAQ:CRZO) shares. $975,369 worth of Carrizo Oil & Gas Inc (NASDAQ:CRZO) was sold by FISHER JOHN BRADLEY on Sunday, September 25.
CRZO Company Profile
Carrizo Oil & Gas, Inc. (Carrizo), incorporated on September 24, 1993, is an energy company. The Firm is engaged in the exploration, development and production of gas and oil from resource plays located in the United States. The Company’s activities are focused in proven, producing gas and oil 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. The Firm has a total production of approximately 13.4 million barrels of oil equivalent (MMBoe) per year. The Company’s proved reserves of approximately 170.6 MMBoe are over 64% crude oil, 12% natural gas liquids (NGLs) and 24% natural gas. It operates approximately 90% of the wells in Eagle Ford in which it holds an interest. It holds an average interest of approximately 88% in these operated wells. It owns leases covering approximately 291,610 gross (165,470 net) acres in the Eagle Ford, Niobrara, Utica and the Delaware Basin areas. It operates over 70 gross wells drilled in the Eagle Ford.
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