Carrizo Oil & Gas (CRZO) Update - June 25

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dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

Carrizo Oil & Gas (CRZO) Update - June 25

Post by dan_s »

CRZO closed today at $9.61/share.

Yesterday (June 24) Stifel sent out a report that shows their price target for CRZO at $41.00/share. First Call's price target is $19.02.

2017: Carrizo reported EPS of $1.07 and operating cash flow of $5.46/share
2018: Carrizo reported EPS of $4.41 and operating cash flow of $6.93/share
2019: First Call's forecast is $3.98 EPS and operating cash flow of $7.11/share, which is very close to my forecast

Carrizo is now on-track to generate over $100 million of free cash flow from operations even if WTI averages $55/bbl for the rest of the year. Their Eagle Ford oil sells at a premium to WTI and they have some nice hedges in place.
Dan Steffens
Energy Prospectus Group
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