Carrizo Oil & Gas, Inc. (CRZO) Stock Price Up 6.2% After Insider Buying Activity

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) shares rose 6.2% during mid-day trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $12.68 and last traded at $12.38. Approximately 5,853,279 shares changed hands during mid-day trading, an increase of 51% from the average daily volume of 3,885,790 shares. The stock had previously closed at $11.66.

Specifically, Director Steven A. Webster bought 75,000 shares of Carrizo Oil & Gas stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average price of $13.89 per share, for a total transaction of $1,041,750.00. Following the completion of the purchase, the director now owns 2,724,410 shares in the company, valued at $37,842,054.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven A. Webster bought 25,000 shares of Carrizo Oil & Gas stock in a transaction that occurred on Monday, August 28th. The stock was bought at an average price of $12.67 per share, with a total value of $316,750.00. Following the purchase, the director now owns 2,826,310 shares of the company’s stock, valued at approximately $35,809,347.70. The disclosure for this purchase can be found here. Insiders have acquired 431,600 shares of company stock valued at $5,602,306 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.

Several equities research analysts recently weighed in on CRZO shares. Mizuho reiterated a “buy” rating and issued a $32.00 target price on shares of Carrizo Oil & Gas in a research note on Friday, June 30th. BMO Capital Markets set a $20.00 target price on shares of Carrizo Oil & Gas and gave the company a “buy” rating in a research note on Monday, June 26th. Jefferies Group LLC set a $36.00 target price on shares of Carrizo Oil & Gas and gave the company a “buy” rating in a research note on Wednesday, May 17th. Williams Capital set a $35.00 target price on shares of Carrizo Oil & Gas and gave the company 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $38.47.

The stock’s market capitalization is $1.12 billion. The firm has a 50 day moving average of $13.74 and a 200-day moving average of $21.11.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Carrizo Oil & Gas by 11.4% in the 2nd quarter. BlackRock Inc. now owns 9,534,149 shares of the oil and gas producer’s stock valued at $166,088,000 after purchasing an additional 978,942 shares during the period. Vanguard Group Inc. boosted its holdings in Carrizo Oil & Gas by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 6,427,895 shares of the oil and gas producer’s stock valued at $111,975,000 after purchasing an additional 405,188 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Carrizo Oil & Gas by 17.0% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 4,905,089 shares of the oil and gas producer’s stock valued at $85,447,000 after purchasing an additional 714,257 shares during the period. State Street Corp boosted its holdings in Carrizo Oil & Gas by 28.7% in the 2nd quarter. State Street Corp now owns 3,815,021 shares of the oil and gas producer’s stock valued at $66,454,000 after purchasing an additional 850,815 shares during the period. Finally, Lord Abbett & CO. LLC boosted its holdings in Carrizo Oil & Gas by 89.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 2,659,107 shares of the oil and gas producer’s stock valued at $46,322,000 after purchasing an additional 1,256,160 shares during the period. 99.96% of the stock is owned by hedge funds and other institutional investors.

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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.

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