Carrizo Oil & Gas (CRZO) Gets a Hold Rating from Northland Securities

By Austin Angelo

Northland Securities analyst Jeff Grampp reiterated a Hold rating on Carrizo Oil & Gas (CRZOResearch Report) on August 28 and set a price target of $9. The company’s shares closed last Monday at $8.29, close to its 52-week low of $7.74.

According to TipRanks.com, Grampp is ranked 0 out of 5 stars with an average return of -18.7% and a 19.9% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Penn Virginia Corporation, and SilverBow Resources Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for Carrizo Oil & Gas with a $11.66 average price target, representing a 35.0% upside. In a report issued on August 19, Williams Capital also downgraded the stock to Hold with a $11 price target.

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Based on Carrizo Oil & Gas’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $107 million. In comparison, last year the company had a net profit of $35.31 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.