BMO Capital Markets reaffirmed their outperform rating on shares of Carrizo Oil & Gas (NASDAQ:CRZO) in a report released on Tuesday. BMO Capital Markets currently has a US$65.00 price objective on the stock, up from their previous price objective of US$50.00.
Shares of Carrizo Oil & Gas (NASDAQ:CRZO) traded up 3.74% on Tuesday, hitting US$53.88. The stock had a trading volume of 966,146 shares. Carrizo Oil & Gas has a 52 week low of US$31.70 and a 52 week high of US$70.49. The stock’s 50-day moving average is US$52. and its 200-day moving average is US$47.. The company has a market cap of US$2.49 billion and a P/E ratio of 11.00.
Carrizo Oil & Gas last announced its earnings results on Wednesday, May 6th. The company reported US$0.14 earnings per share for the quarter, beating the analysts’ consensus estimate of US$0.03 by US$0.11. The company had revenue of US$149.10 million for the quarter, compared to the consensus estimate of US$134.11 million. During the same quarter last year, the company posted US$0.51 earnings per share. Carrizo Oil & Gas’s revenue was down .9% compared to the same quarter last year. On average, analysts predict that Carrizo Oil & Gas will post US$1.07 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity reiterated a buy rating and set a US$61.00 price target on shares of Carrizo Oil & Gas in a research note on Tuesday. Analysts at RBC Capital raised their price target on shares of Carrizo Oil & Gas from US$53.00 to US$58.00 and gave the company an outperform rating in a research note on Thursday, May 7th. Analysts at Northland Securities raised their price target on shares of Carrizo Oil & Gas from $61.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, May 7th. Finally, analysts at Zacks reiterated a hold rating on shares of Carrizo Oil & Gas in a research note on Friday, May 1st. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Carrizo Oil & Gas has an average rating of Buy and an average target price of US$65.02.
Carrizo Oil & Gas, Inc, is an energy company. The Company is actively engaged in the exploration, development, and production of oil and gas primarily from resource plays located in the United States. As of December 31, 2013 the Company’s operations are principally focused in producing oil and gas plays primarily in the Eagle Ford Shale in South Texas, the Niobrara Formation in Colorado, the Marcellus Shale in Pennsylvania, and the Utica Shale in Ohio.