Insider Buying: Carrizo Oil & Gas, Inc. (CRZO) Director Purchases 75,000 Shares of Stock

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) Director Steven A. Webster purchased 75,000 shares of the stock in a transaction dated Friday, September 8th. The stock was acquired at an average cost of $11.70 per share, with a total value of $877,500.00. Following the transaction, the director now directly owns 2,786,310 shares in the company, valued at approximately $32,599,827. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Carrizo Oil & Gas, Inc. (CRZO) traded up 2.46% on Monday, reaching $11.66. 3,147,521 shares of the company’s stock were exchanged. Carrizo Oil & Gas, Inc. has a one year low of $11.10 and a one year high of $43.96. The firm’s market capitalization is $949.60 million. The firm has a 50 day moving average of $13.88 and a 200 day moving average of $21.41.

Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. Carrizo Oil & Gas had a negative net margin of 0.98% and a positive return on equity of 1,494.45%. The company had revenue of $166.50 million for the quarter, compared to analysts’ expectations of $163.22 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue for the quarter was up 55.2% on a year-over-year basis. On average, equities research analysts predict that Carrizo Oil & Gas, Inc. will post $1.07 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in CRZO. Glen Harbor Capital Management LLC raised its holdings in Carrizo Oil & Gas by 33.7% during the first quarter. Glen Harbor Capital Management LLC now owns 3,892 shares of the oil and gas producer’s stock worth $112,000 after purchasing an additional 980 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in Carrizo Oil & Gas by 6.7% during the first quarter. Great West Life Assurance Co. Can now owns 85,837 shares of the oil and gas producer’s stock worth $2,459,000 after purchasing an additional 5,388 shares in the last quarter. Chicago Equity Partners LLC raised its holdings in Carrizo Oil & Gas by 1.5% during the first quarter. Chicago Equity Partners LLC now owns 16,705 shares of the oil and gas producer’s stock worth $479,000 after purchasing an additional 250 shares in the last quarter. Elkfork Partners LLC raised its holdings in Carrizo Oil & Gas by 33.7% during the first quarter. Elkfork Partners LLC now owns 4,726 shares of the oil and gas producer’s stock worth $135,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Carrizo Oil & Gas by 3.5% during the first quarter. Bank of New York Mellon Corp now owns 833,707 shares of the oil and gas producer’s stock worth $23,893,000 after purchasing an additional 27,907 shares in the last quarter. 99.96% of the stock is currently owned by institutional investors.

Several research firms recently commented on CRZO. Mizuho reiterated a “buy” rating and set a $32.00 price objective on shares of Carrizo Oil & Gas in a research note on Friday, June 30th. BMO Capital Markets set a $20.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Monday, June 26th. Jefferies Group LLC set a $36.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Wednesday, May 17th. Williams Capital set a $35.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research upgraded shares of Carrizo Oil & Gas from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Carrizo Oil & Gas presently has a consensus rating of “Buy” and a consensus target price of $38.47.

Carrizo Oil & Gas Company Profile

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.

Insider Buying and Selling by Quarter for Carrizo Oil & Gas (NASDAQ:CRZO)

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