Jefferies Thinks Carrizo Oil & Gas’ Stock is Going to Recover

By Austin Angelo

In a report released today, Michael Hsu from Jefferies reiterated a Buy rating on Carrizo Oil & Gas (NASDAQ: CRZO), with a price target of $25. The company’s shares opened today at $12.21, close to its 52-week high of $43.96.

According to, Hsu is ranked 0 out of 5 stars with an average return of -20.2% and a 13.3% success rate. Hsu covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Continental Resources, and Gulfport Energy Corp.

Currently, the analyst consensus on Carrizo Oil & Gas is Moderate Buy and the average price target is $24.11, representing a 97.5% upside.

In a report issued on August 16, Williams Capital also maintained a Buy rating on the stock with a $26 price target.

Based on Carrizo Oil & Gas’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $166 million and quarterly net profit of $56.31 million. In comparison, last year the company earned revenue of $107 million and had a GAAP net loss of $262 million.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRZO in relation to earlier this year.

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Carrizo Oil & Gas, Inc. is engaged in exploration, development and production of natural gas and oil in the Eagle Ford Shale in South Texas, the Marcellus Shale in Pennsylvania, the Niobrara Formation in Colorado and the Utica Shale in Eastern Ohio. It is also actively developing its oil discovery known as the Huntington Field in the United Kingdom, The company was founded by Sylvester P. Johnson IV and Steven A. Webster in December 1993 and is headquartered in Houston, TX.