Carrizo Oil & Gas (CRZO) Received its Third Buy in a Row


After Jefferies and IFS Securities, Inc gave Carrizo Oil & Gas (NASDAQ: CRZO) a Buy rating last month, the company received another Buy, this time from Williams Capital. Analyst Gabriele Sorbara reiterated a Buy rating on Carrizo Oil & Gas today and set a price target of $38. The company’s shares closed yesterday at $18.32.

According to TipRanks.com, Sorbara is ranked 0 out of 5 stars with an average return of -2.7% and a 40.0% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Carrizo Oil & Gas with a $33.40 average price target, implying an 82.3% 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 June 30, the company reported a quarterly net profit of $35.31 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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