Low Short Interest Observed For Carrizo Oil & Gas, Inc. (CRZO)

For the period that ended November 15, 2019, the short interest in Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) stock is on the down. The 12.48% decline could be an indication that investors and traders expect a growth in the share price, often as a result of an advancement in the business’ fundamentals. The average brokerage opinion at 2.7 suggests acquiring these shares. Between October 31 and November 15, the total count of shorted shares totalled 32.36 million. That number was 4,615,517 less shares compared with the total of 36.98 million shares in the space of prior two weeks, which suggests more traders or funds are betting that the company stock will move up. The average daily volume for CRZO at the November 15th settlement surged to 12,516,745, versus 6,030,513 at the October 31st report. That led days to cover to move at 2.585617, a 57.83% decrease compared to the 6.131986 days to cover recorded at the prior short interest data release.

On December 03, 2019, Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) shares lost -2.61% or -0.17 points to close at $6.35 with a thin trading volume of 4.35 million shares. It opened the trading session at $6.42, the shares rose to $6.5 and dropped to $6.29, the range by which the price of stock traded the whole day. The company now has a market cap of $616 million and currently has 97.08 million outstanding shares. Carrizo Oil & Gas, Inc. (CRZO) stock has plunged -13.25 percent of market value in 21 trading days.

CRZO stock’s trailing 3-year beta is 2.14, meaning there will be a greater rate of return, although posing a higher risk. The part of a firm’s profit given to each outstanding share of regular stock was $6.54 share in the trailing 52 weeks. The stock’s value fallen -43.76 percent year to date (YTD) compared to a decline of -62.89 percent in 52 week’s period. The firm’s shares are still trading -65.11 percent below its 1-year high of $18.20 and 3.25 percent up from 52-week low of $6.15. The average consensus ranking on the company is 2.7, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.

Carrizo Oil & Gas, Inc. (CRZO) is most likely going to rise 93.23 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $18-month high price target. This represents a whopping 183.46 percent increase from the current trading of shares. The 52-week median price target given by the analysts is $10, which means a return possibility of 57.48 percent in comparison with the closing price of the stock of $6.35 on December 03. The lowest price set for the stock is $7 — just above 10.24 percent from CRZO share price now.

Past records have indicated that shares in Carrizo Oil & Gas, Inc. rose on 22 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of CRZO’s Q4 earnings on March 03. Analysts are predicting revenue to suffer decline of -7.3 percent to $253M in the financial fourth quarter, while EPS will soar by about 3.57 percent to $0.58 per share. In the last quarter, it earnings of $0.71 per share came better than the $0.62812, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $273.31M, topping the $268.91M analysts had expected. Earnings are seen to rise by 307 percent this year, -4.5 percent in the coming year and the trend continues by 27 percent every year in the next 5 years.

Let’s take a glimpse at some insider activity at Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) and observe the pattern. The earliest insider trade happened on 11/21/2019. WEBSTER STEVEN A gathered a total of 71.05 thousand shares of the firm at average share price of $6.4. The total amount for the purchase was set at $454.7 thousand. On completing this exchange, the Director account balance was 3.04 million shares. The stock grew 1.87 percent from that insider purchase. On 09/16/2019, JOHNSON S P IV, President and CEO, did a sale of 8 thousand shares at a price of $9.83 per share. This got rid of 78.64 thousand shares from the insider’s fortune and the stock experienced a -33.67 percent retreat in price since the news became public. This exchange saw 571.22 thousand shares get out from the President and CEO account.

On 08/15/2019, President and CEO JOHNSON S P IV recorded a sale transaction valued at $66.08 thousand. The sale at $8.26 a share has eliminated 8 thousand shares from the insider’s portfolio position. Meanwhile, shares price witnessed -21.07 percent decrease since the transaction reporting date. The company insider is left with 579.22 thousand shares remaining in the account. JOHNSON S P IV, who works as President and CEO at the company, performed a sale of 8 thousand shares in a transaction worth $86.8 thousand. The disposal recorded on 07/15/2019 was priced at $10.85 per share. The stock price plunged -39.91 percent since the transaction. JOHNSON S P IV currently holds a stake of 587.22 thousand in CRZO stock which is worth $3.73 million after the insider selling.

The stock is lingering around the initial support level of $6.26. After this, the following support is at the zone of $6.17. Up until the time the CRZO stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 39.15 on the daily chart, and this may be a cause for comfort. In case the price goes below $6.17 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $6.47 level may cause a pull-back move approaching $6.59 mark.

Carrizo Oil & Gas, Inc. (CRZO) shares are trading at a P/E ratio of 0.9 times earnings posted in the trailing 12 months. The industry CRZO deals with has an average P/E of 13.1. Its P/B ratio is standing at 0.4X compared to the 1.1 industry average. It is additionally sporting a 0.6 on the Price-to-Sales ratio, compared to the industry’s P/S average of 1.6. Carrizo Oil & Gas, Inc. has a 76.6% gross profit margin, with its operating margin around 38.9%. Alongside this, the company’s net profit margin currently stands at 59%.