Bullish Options Activity on Carrizo Oil & Gas Inc Surges After Better Fundamentals

 Bullish Options Activity on Carrizo Oil & Gas Inc Surges After Better Fundamentals

In today’s session Carrizo Oil & Gas Inc (CRZO) registered an unusually high (1,057) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious CRZO increase. With 1,057 contracts traded and 28224 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: CRZO161216C00040000 closed last at: $0.7 or 46.2% down. About 809,932 shares traded hands. Carrizo Oil & Gas Inc (NASDAQ:CRZO) has declined 5.10% since April 27, 2016 and is downtrending. It has underperformed by 10.33% the S&P500.

Analysts await Carrizo Oil & Gas Inc (NASDAQ:CRZO) to report earnings on February, 27. They expect $0.32 EPS, 0.00% or $0.00 from last year’s $0.32 per share. CRZO’s profit will be $20.27 million for 30.84 P/E if the $0.32 EPS becomes a reality. After $0.23 actual EPS reported by Carrizo Oil & Gas Inc for the previous quarter, Wall Street now forecasts 39.13% EPS growth.

Carrizo Oil & Gas Inc (NASDAQ:CRZO) Ratings Coverage

Out of 18 analysts covering Carrizo Oil & Gas Inc. (NASDAQ:CRZO), 14 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 78% are positive. $60 is the highest target while $27 is the lowest. The $44.80 average target is 13.50% above today’s ($39.47) stock price. Carrizo Oil & Gas Inc. has been the topic of 59 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Mizuho initiated the stock with “Neutral” rating in Thursday, October 6 report. On Friday, August 21 the stock rating was maintained by Credit Suisse with “Outperform”. The stock has “Overweight” rating given by JP Morgan on Friday, May 13. The stock of Carrizo Oil & Gas Inc (NASDAQ:CRZO) earned “Outperform” rating by Iberia Capital Partners on Wednesday, December 16. The firm has “Accumulate” rating by KLR Group given on Tuesday, October 20. The stock has “Buy” rating given by KLR Group on Monday, July 18. On Thursday, September 3 the stock rating was maintained by SunTrust with “Buy”. The firm has “Neutral” rating given on Tuesday, March 15 by JP Morgan. Goldman Sachs maintained Carrizo Oil & Gas Inc (NASDAQ:CRZO) rating on Tuesday, March 29. Goldman Sachs has “Buy” rating and $36 price target. The rating was downgraded by Simmons & Co on Wednesday, February 24 to “Neutral”.

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.”

Insitutional Activity: The institutional sentiment decreased to 1.07 in 2016 Q2. Its down 0.02, from 1.09 in 2016Q1. The ratio turned negative, as 32 funds sold all Carrizo Oil & Gas Inc shares owned while 71 reduced positions. 37 funds bought stakes while 75 increased positions. They now own 62.80 million shares or 1.86% less from 63.99 million shares in 2016Q1.
Ladenburg Thalmann Financial Services Inc, a Florida-based fund reported 1,426 shares. Lombard Odier Asset Management (Europe) Ltd holds 21,228 shares or 0.04% of its portfolio. First Midwest Savings Bank Tru Division has 0.04% invested in the company for 8,561 shares. Enterprise Services Corp last reported 0% of its portfolio in the stock. The France-based Axa has invested 0% in Carrizo Oil & Gas Inc (NASDAQ:CRZO). Ls Invest Advisors Limited Liability holds 1,903 shares or 0% of its portfolio. Alliancebernstein Limited Partnership owns 86,937 shares or 0% of their US portfolio. Moreover, Sir Capital Limited Partnership has 0.15% invested in Carrizo Oil & Gas Inc (NASDAQ:CRZO) for 28,100 shares. Price T Rowe Associate Md holds 428,460 shares or 0% of its portfolio. Adirondack Rech And Mgmt holds 1.04% of its portfolio in Carrizo Oil & Gas Inc (NASDAQ:CRZO) for 77,400 shares. Blackrock Gp Limited, a United Kingdom-based fund reported 93,933 shares. Moreover, Bluecrest Cap Mgmt Limited has 0.06% invested in Carrizo Oil & Gas Inc (NASDAQ:CRZO) for 43,305 shares. Artemis Inv Mngmt Llp last reported 99,790 shares in the company. Dupont Mgmt has 12,731 shares for 0.01% of their US portfolio. Parametric Associates Limited Liability Corporation owns 303,167 shares or 0.02% of their US portfolio.

Insider Transactions: Since June 2, 2016, the stock had 0 insider purchases, and 13 insider sales for $2.85 million net activity. Shares for $33,316 were sold by RAMSEY ROGER A on Friday, August 5. JOHNSON S P IV sold 6,000 shares worth $238,069. 800 shares were sold by MORTON GERALD A, worth $30,266. The insider FISHER JOHN BRADLEY sold 27,831 shares worth $975,369. The insider WOJTEK FRANK A sold 1,750 shares worth $59,469.

Carrizo Oil & Gas, Inc. is an energy company. The company has a market cap of $2.50 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 Delaware Basin in West Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado, and the Marcellus Shale in Pennsylvania.

CRZO Company Profile

Carrizo Oil & Gas, Inc. (Carrizo), incorporated on September 24, 1993, is an energy company. The Firm is engaged in the exploration, development and production of gas and oil from resource plays located in the United States. The Company’s activities are focused in proven, producing gas and oil plays in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado, and the Marcellus Shale in Pennsylvania. The Firm has a total production of approximately 13.4 million barrels of oil equivalent (MMBoe) per year. The Company’s proved reserves of approximately 170.6 MMBoe are over 64% crude oil, 12% natural gas liquids (NGLs) and 24% natural gas. It operates approximately 90% of the wells in Eagle Ford in which it holds an interest. It holds an average interest of approximately 88% in these operated wells. It owns leases covering approximately 291,610 gross (165,470 net) acres in the Eagle Ford, Niobrara, Utica and the Delaware Basin areas. It operates over 70 gross wells drilled in the Eagle Ford.

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