JP Morgan: “Time To Neutral Carrizo Oil & Gas (NASDAQ:CRZO)”


How JP Morgan Currently Rates Carrizo Oil & Gas (NASDAQ:CRZO)

In an interesting research report finalized on Wednesday morning, JP Morgan analyst just have commenced coverage coverage of Carrizo Oil & Gas (NASDAQ:CRZO) with Neutral rating.

From a total of 25 analysts covering Carrizo Oil & Gas Inc. (NASDAQ:CRZO) stock, 25 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 96% of the ratings are positive. The highest target price is $60 while the lowest target price is $35. The mean of all analyst targets is $49.6 with a 51.76% above today’s ($33.87) stock price. Carrizo Oil & Gas Inc. was the topic of 26 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. KLR Group downgraded shares on October 20 to “Accumulate” rating. Northland Capital maintained shares with “Outperform” rating and $52 target share price in a report from an August 7. Imperial Capital maintained CRZO stock in a recent report from August 10 with “In-Line” rating. Finally, RBC Capital Markets maintained the stock with “Outperform” rating in a report issued on an August 7.

Approximately 801,203 shares of stock traded hands. Carrizo Oil & Gas Inc (NASDAQ:CRZO) has declined 37.35% since May 6, 2015 and is downtrending. It has underperformed by 36.56% the S&P500.

The overall sentiment of institutions has increased to 1.06 in Q2 2015. Its up 0.15, from 0.91 in 2015Q2. The ratio is positive, as 51 institutions have sold all the shares of Carrizo Oil & Gas Inc that they owned while 68 funds have taken shares off the table. 30 funds have purchased shares for the first time while 96 added to their positions. These institutions now hold 62.24 million shares or 26.71% more than the 49.12 million shares they owned in 2015Q2.

The Fund Geosphere Capital Management currently is holding shares equating to 4.58% of its total portfolio in Carrizo Oil & Gas Inc representing a total of 55,000 shares. Another fund,Alta Advisers Ltd, is holding a total of 71,292 shares equating to 3.55% of their holdings. Additionally, Grt Capital Partners L.L.C. has a 334,880 share stake in Carrizo Oil & Gas Inc which represents 2.72% of their total portfolio. The Fund, Daruma Capital Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 2.3% of their total portfolio. Finally Astenbeck Capital Management Llc, a fund which is based in the state of Connecticut reported a total holdings of 77,027 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 6, 2015, shareholders of Carrizo Oil & Gas Inc have witnessed 0 insider buys, and a total of 7 insider sales equating to a net activity of approximately $1.10 million . Johnson S P Iv sold 6,000 shares worth approximately $227,061. Ramsey Roger A sold 1,000 shares worth approximately $36,000. Wojtek Frank A sold 2,500 shares worth approximately $89,388. Smith Richard H sold 11,789 shares worth approximately $624,817. The company insider Conaway Gregory F sold 1,159 shares worth $57,791.

Carrizo Oil & Gas, Inc. is an energy company. The company has a market cap of $1.98 billion. The Firm is engaged in the exploration, development and production of gas and oil from resource plays located in the United States. It currently has negative earnings. The Company’s activities are focused in proven, producing gas and oil plays in the Eagle Ford Shale in South Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado and the Marcellus Shale in Pennsylvania.

According to Zacks Investment Research, “Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development, exploitation and production of oil and natural gas primarily in proven trends in the Barnett Shale area in North Texas and along the Texas and Louisiana onshore Gulf Coast regions. Carrizo controls significant prospective acreage blocks and utilizes advanced three-D seismic techniques to identify potential oil and gas reserves and drilling opportunities.” Get a free copy of the Zacks research report on Carrizo Oil & Gas Inc (CRZO).