Seaport Global Upgrades Carrizo Oil & Gas Inc to Accumulate

Brokerage firm Seaport Global Upgrades its rating on Carrizo Oil & Gas Inc(NASDAQ:CRZO). The shares have been rated Accumulate. Previously, the analysts had a Neutral rating on the shares. The rating by Seaport Global was issued on Jun 7, 2016.

In a different note, On May 24, 2016, KLR Group said it Downgrades its rating on Carrizo Oil & Gas Inc. The shares have been rated ‘Accumulate’ by the firm. On May 13, 2016, JP Morgan said it Upgrades its rating on Carrizo Oil & Gas Inc. In the research note, the firm Raises the price-target to $35.00 per share. The shares have been rated ‘Overweight’ by the firm. On May 6, 2016, Imperial Capital said it Maintains its rating on Carrizo Oil & Gas Inc. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Outperform’ by the firm. On Mar 30, 2016, Seaport Global said it Downgrades its rating on Carrizo Oil & Gas Inc. The shares have been rated ‘Neutral’ by the firm. On Mar 29, 2016, Goldman Sachs said it Maintains its rating on Carrizo Oil & Gas Inc. In the research note, the firm Lowers the price-target to $37.00 per share. The shares have been rated ‘Buy’ by the firm. On Mar 15, 2016, JP Morgan said it Maintains its rating on Carrizo Oil & Gas Inc. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Neutral’ by the firm.

Carrizo Oil & Gas Inc (CRZO) shares turned negative on Fridays trading session with the shares closing down -2.28 points or -5.70% at a volume of 13,18,982. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $40.03. The peak price level was also seen at $40.03 while the days lowest was $37.74. Finally the shares closed at $37.74. The 52-week high of the shares is $53.89 while the 52-week low is $16.1022. According to the latest information available, the market cap of the company is $2,218 M.

Carrizo Oil & Gas Inc(CRZO) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $132.43M. Analysts had an estimated revenue of $124.30M. Earnings per share were $0.16. Analysts had estimated an EPS of $0.14.

Several Insider Transactions has been reported to the SEC. On Jun 6, 2016, Roger A Ramsey (director) sold 2,000 shares at $35.80 per share price.Also, On Jun 6, 2016, Gerald A Morton (General Counsel & VP-Bus Dev) sold 800 shares at $37.83 per share price.On Jun 6, 2016, S P Iv Johnson (President and CEO) sold 6,000 shares at $38.38 per share price, according to the Form-4 filing with the securities and exchange commission.

Carrizo Oil & Gas Inc. (Carrizo) 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 Utica Shale in Ohio the Niobrara Formation in Colorado and the Marcellus Shale in Pennsylvania. The Company’s core Eagle Ford properties are located in LaSalle County in McMullen Frio and Atascosa counties in Texas. It has joint venture arrangements with GAIL GLOBAL (USA) INC. (GAIL) which is a wholly owned subsidiary of GAIL (India) Limited. The Company serves as an operator of the properties covered by its Niobrara joint venture arrangements. The Company’s activities in the Marcellus are conducted through two joint ventures.

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