RBC Capital Believes Carrizo Oil & Gas (NASDAQ: CRZO) Won’t Stop Here

By Ryan Adsit

RBC Capital analyst Scott Hanold reiterated a Buy rating on Carrizo Oil & Gas (NASDAQ: CRZO) on July 9 and set a price target of $29. The company’s shares opened today at $29.13, close to its 52-week high of $31.57.

According to TipRanks.com, Hanold is a 4-star analyst with an average return of 4.2% and a 49.4% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Anadarko Petroleum, Devon Energy Corp, and Matador Resources.

Carrizo Oil & Gas has an analyst consensus of Moderate Buy, with a price target consensus of $28.86, implying a -0.9% downside from current levels. In a report issued on June 28, Stifel Nicolaus also maintained a Buy rating on the stock with a $34 price target.

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Based on Carrizo Oil & Gas’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $27.49 million. In comparison, last year the company had a net profit of $56.31 million.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock.

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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 A. Webster in December 1993 and is headquartered in Houston, TX.