$263.03 Million in Sales Expected for Carrizo Oil & Gas Inc (NASDAQ:CRZO) This Quarter

Wall Street brokerages expect Carrizo Oil & Gas Inc (NASDAQ:CRZO) to announce sales of $263.03 million for the current quarter, Zacks reports. Ten analysts have issued estimates for Carrizo Oil & Gas’ earnings, with the lowest sales estimate coming in at $248.80 million and the highest estimate coming in at $292.35 million. Carrizo Oil & Gas posted sales of $303.38 million during the same quarter last year, which suggests a negative year over year growth rate of 13.3%. The business is expected to report its next earnings report on Monday, November 4th.

On average, analysts expect that Carrizo Oil & Gas will report full-year sales of $1.02 billion for the current financial year, with estimates ranging from $959.00 million to $1.11 billion. For the next year, analysts expect that the company will post sales of $1.05 billion, with estimates ranging from $942.80 million to $1.11 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Carrizo Oil & Gas.

Carrizo Oil & Gas (NASDAQ:CRZO) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. Carrizo Oil & Gas had a net margin of 55.87% and a return on equity of 25.15%. The firm had revenue of $264.97 million during the quarter, compared to analysts’ expectations of $263.76 million.

CRZO has been the topic of several recent analyst reports. Raymond James lowered shares of Carrizo Oil & Gas from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, July 17th. MKM Partners reaffirmed a “neutral” rating and issued a $11.00 price target (down previously from $19.00) on shares of Carrizo Oil & Gas in a report on Tuesday, July 16th. Johnson Rice downgraded shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Williams Capital downgraded shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Piper Jaffray Companies set a $15.00 price target on shares of Carrizo Oil & Gas and gave the company a “hold” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.75.

In other news, CEO S P. Iv Johnson sold 8,000 shares of Carrizo Oil & Gas stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.83, for a total value of $78,640.00. Following the transaction, the chief executive officer now owns 171,221 shares of the company’s stock, valued at approximately $1,683,102.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 24,000 shares of company stock worth $231,520 in the last ninety days. Corporate insiders own 4.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CRZO. Point72 Hong Kong Ltd bought a new stake in shares of Carrizo Oil & Gas in the 2nd quarter valued at about $54,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Carrizo Oil & Gas by 22.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,421 shares of the oil and gas producer’s stock worth $75,000 after purchasing an additional 1,363 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in Carrizo Oil & Gas during the 2nd quarter worth approximately $109,000. Cetera Advisor Networks LLC bought a new stake in Carrizo Oil & Gas during the 2nd quarter worth approximately $116,000. Finally, WINTON GROUP Ltd bought a new stake in Carrizo Oil & Gas during the 2nd quarter worth approximately $116,000.

CRZO traded up $0.11 on Friday, hitting $7.92. 1,020,192 shares of the company were exchanged, compared to its average volume of 5,271,161. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.31 and a current ratio of 0.31. The business’s fifty day moving average is $8.33 and its 200 day moving average is $10.24. Carrizo Oil & Gas has a fifty-two week low of $7.17 and a fifty-two week high of $23.01. The firm has a market capitalization of $696.00 million, a P/E ratio of 2.85, a price-to-earnings-growth ratio of 0.11 and a beta of 2.13.

About Carrizo Oil & Gas

Carrizo Oil & Gas, Inc, an energy company, explores for, develops, and produces 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 the Eagle Ford Shale in South Texas; and the Permian Basin in West Texas.

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

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