Carrizo Oil & Gas (CRZO) Gets a Buy Rating from BMO Capital


BMO Capital analyst Dan McSpirit reiterated a Buy rating on Carrizo Oil & Gas (CRZO) yesterday and set a price target of $28. The company’s shares closed yesterday at $16.94.

According to TipRanks.com, McSpirit is a 2-star analyst with an average return of -0.2% and a 42.9% success rate. McSpirit covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Jagged Peak Energy Inc, and Resolute Energy Corp.

Currently, the analyst consensus on Carrizo Oil & Gas is a Strong Buy with an average price target of $32.50, a 91.9% upside from current levels. In a report issued on October 29, IFS Securities, Inc also initiated coverage with a Buy rating on the stock with a $22 price target.

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Based on Carrizo Oil & Gas’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $81.35 million. In comparison, last year the company had a net profit of $7.82 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 A. Webster in December 1993 and is headquartered in Houston, TX.

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