Published On: Wed, Sep 14th, 2016

Carrizo Oil & Gas Inc. (CRZO) Sees Significant Growth in Short Interest

Carrizo Oil & Gas Inc. (NASDAQ:CRZO) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 10,812,723 shares, a growth of 26.2% from the August 15th total of 8,566,810 shares. Approximately 19.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,721,333 shares, the days-to-cover ratio is presently 6.3 days.
Carrizo Oil & Gas (NASDAQ:CRZO) opened at 34.77 on Wednesday. The stock’s market cap is $2.05 billion. Carrizo Oil & Gas has a 12 month low of $16.10 and a 12 month high of $43.97. The firm has a 50-day moving average of $36.08 and a 200 day moving average of $34.52.
Carrizo Oil & Gas (NASDAQ:CRZO) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.16. The business had revenue of $107.30 million for the quarter, compared to the consensus estimate of $119.67 million. Carrizo Oil & Gas had a negative net margin of 421.40% and a positive return on equity of 19.03%. The company’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Analysts anticipate that Carrizo Oil & Gas will post $1.09 EPS for the current year.

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In related news, Director Roger A. Ramsey sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $39.86, for a total value of $39,860.00. Following the transaction, the director now directly owns 33,450 shares of the company’s stock, valued at approximately $1,333,317. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider S P. Iv Johnson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $39.68, for a total transaction of $238,080.00. Following the completion of the transaction, the insider now directly owns 601,717 shares in the company, valued at $23,876,130.56. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Financial Architects Inc increased its position in shares of Carrizo Oil & Gas by 4,458.8% in the second quarter. Financial Architects Inc now owns 3,100 shares of the company’s stock valued at $111,000 after buying an additional 3,032 shares during the last quarter. Huntington Asset Advisors Inc. purchased a new position in shares of Carrizo Oil & Gas during the first quarter valued at about $117,000. Blair William & Co. IL purchased a new position in shares of Carrizo Oil & Gas during the second quarter valued at about $209,000. Panagora Asset Management Inc. increased its position in shares of Carrizo Oil & Gas by 77.2% in the second quarter. Panagora Asset Management Inc. now owns 6,127 shares of the company’s stock valued at $220,000 after buying an additional 2,670 shares during the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Carrizo Oil & Gas during the second quarter valued at about $233,000.
CRZO has been the subject of a number of recent research reports. Seaport Global Securities upgraded shares of Carrizo Oil & Gas from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a report on Tuesday, June 7th. KLR Group downgraded shares of Carrizo Oil & Gas from a “buy” rating to an “accumulate” rating and set a $41.00 price objective for the company. in a report on Tuesday, May 24th. Cantor Fitzgerald reiterated a “buy” rating on shares of Carrizo Oil & Gas in a report on Sunday, May 22nd. Stifel Nicolaus initiated coverage on shares of Carrizo Oil & Gas in a report on Thursday, June 16th. They issued a “buy” rating and a $48.00 price objective for the company. Finally, Canaccord Genuity increased their price objective on shares of Carrizo Oil & Gas from $38.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, June 9th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Carrizo Oil & Gas currently has a consensus rating of “Buy” and a consensus target price of $39.64.
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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