Capital One Financial Thinks Carrizo Oil & Gas’ Stock is Going to Recover

By Carrie Williams

In a report released today, Brian Velie from Capital One Financial upgraded Carrizo Oil & Gas (CRZOResearch Report) to Buy. The company’s shares opened today at $11.94, close to its 52-week low of $9.67.

According to TipRanks.com, Velie is ranked #4481 out of 5249 analysts.

Carrizo Oil & Gas has an analyst consensus of Strong Buy, with a price target consensus of $17.93, representing a 50.2% upside. In a report issued on March 11, Alliance Global Partners also maintained a Buy rating on the stock with a $15 price target.

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Based on Carrizo Oil & Gas’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $260 million. In comparison, last year the company had a GAAP net loss of $17.04 million.

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Carrizo Oil & Gas, Inc. engages in the exploration, development, and production of natural gas and oil. Its operations include Delaware Basin and Eagle Ford Shale. The company was founded by Sylvester P. Johnson IV and Steven Alan Webster in December 1993 and is headquartered in Houston, TX.