Goldman Sachs Group Inc. downgraded Carrizo Oil & Gas Inc (NASDAQ:CRZO) to Hold in a report released today.
- Updated: October 17, 2016
Goldman Sachs Group Inc. has downgraded Carrizo Oil & Gas Inc (NASDAQ:CRZO) to Hold in a report released on Tuesday October 18, 2016.
Yesterday Carrizo Oil & Gas Inc (NASDAQ:CRZO) traded -0.20% lower at $39.81. The company’s 50-day moving average is $38.23 and its 200-day moving average is $36.22. The last stock close price is up 9.93% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 952,559 shares of the stock were exchanged, down from an average trading volume of 1,583,750
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Carrizo Oil & Gas Inc has a 52 week low of $16.10 and a 52 week high of $43.56 The company’s market cap is currently $0.
In addition to Goldman Sachs Group Inc. reporting its target price, a total of 28 brokerages have issued a ratings update on Carrizo Oil & Gas Inc. The 12-month price target is $42.46 with zero brokerages rating the company a strong buy, zero equity analysts rating the company a buy, zero equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and lastly zero equity analysts rating the company a sell.
Brief Synopsis About Carrizo Oil & Gas Inc (NASDAQ:CRZO)
Carrizo Oil & Gas, Inc. is an energy company. The Company is engaged in the exploration, development and production of oil and gas from resource plays located in the United States. Its operations are focused in proven, producing oil and gas 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 Company has a total production of over 13.4 million barrels of oil equivalent (MMBoe) per year. The Company's proved reserves of over 170.6 MMBoe are over 64% crude oil, 12% natural gas liquids (NGLs) and 24% natural gas. It operates over 90% of the wells in Eagle Ford in which it holds an interest. It holds an average interest of over 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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