Carrizo Oil & Gas (CRZO): An updated Net Income & Cash Flow Forecast model has been posted under the Watch List Tab.
Carrizo is one of the top preforming stocks in our Small-Cap Growth Portfolio. It is a former Sweet 16 company and I have been tracking and modeling it for over five years. I have a VERY HIGH confidence level in my forecast model for this one.
I have raised my Fair Value Estimate by $6.75 to $48.00/share. First Call's Target Price is only $37.40, but I think it will go up after the analysts see Carrizo's 3rd quarter results. The company has beaten First Call's EPS forecasts easily for the last four quarters.
The sale of their Barnett Shale assets shores up the balance sheet. The company is on-track to report a 45% year-over-year increase in their crude oil production in 2013 and I believe oil production will be way up again in 2014. They are completing a lot of very good wells in their LaSalle County Eagle Ford leasehold.
CRZO
Re: CRZO
Carrizo Oil & Gas, Inc. sets a new 52-week high 10/01 08:39 AM
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Carrizo Oil & Gas, Inc. (CRZO:$38.74,00$1.45,003.89%) crossed above its 52-week high of $37.52 on 9:39 AM ET on October 01, 2013.
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lovely, for sure
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Carrizo Oil & Gas, Inc. (CRZO:$38.74,00$1.45,003.89%) crossed above its 52-week high of $37.52 on 9:39 AM ET on October 01, 2013.
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lovely, for sure
Re: CRZO
stolen from the IV bd. thx to sophocles
By Arie Shapira
Oct. 3 (Bloomberg) -- Carrizo Oil PT raised to $57 from $46
to reflect addtl value for Utica Shale acreage, remains buy
rated, Miller Tabak analyst Adam Michael writes in note.
* Recent results from Antero Resources “spectacular” w/
several “monster” wells in close proximity to CRZO
position; Antero set to IPO next week
* CRZO has 13 buys, 6 holds, 1 sell w/ avg PT $39
* CRZO up 86% YTD vs EPX index up 24%
By Arie Shapira
Oct. 3 (Bloomberg) -- Carrizo Oil PT raised to $57 from $46
to reflect addtl value for Utica Shale acreage, remains buy
rated, Miller Tabak analyst Adam Michael writes in note.
* Recent results from Antero Resources “spectacular” w/
several “monster” wells in close proximity to CRZO
position; Antero set to IPO next week
* CRZO has 13 buys, 6 holds, 1 sell w/ avg PT $39
* CRZO up 86% YTD vs EPX index up 24%
Re: CRZO
Carrizo Oil & Gas started with a Buy rating at Sterne Agee • 10:49 AM
Carrizo Oil & Gas (CRZO +1.6%) is initiated with a Buy rating and $50 price target at Sterne Agee, even after the stock's 96% YTD rally.
The firm says Eagle Ford downspacing testing and drilling results from the Utica Shale should validate the quality and depth of CRZO's inventory in these plays, and potential bolt-on acquisitions with proceeds from a non-core asset sale should provide further running room to complement core positions in the Eagle Ford Shale and Niobrara.
Carrizo Oil & Gas (CRZO +1.6%) is initiated with a Buy rating and $50 price target at Sterne Agee, even after the stock's 96% YTD rally.
The firm says Eagle Ford downspacing testing and drilling results from the Utica Shale should validate the quality and depth of CRZO's inventory in these plays, and potential bolt-on acquisitions with proceeds from a non-core asset sale should provide further running room to complement core positions in the Eagle Ford Shale and Niobrara.
Re: CRZO
My Fair Value Estimate for CRZO is $48/share but I am only using a multiple of 6X CFPS. If we get a strong Q3 report with the news that more downspacing in the Eagle Ford leasehold is likely to increase recoveries, the multiple will be going up. You can find my forecast model for CRZO under the Watch List Tab. This former Sweet 16 member appears to be heading to a "stunning" year-end reserve report, which should draw a lot more attention from analysts. Buy the dips. - Dan
NEW YORK (AP) -- Shares of Carrizo Oil & Gas Inc. rose to their highest level in more than two years on Friday as an analyst said that he expects further gains in the stock.
Shares of the energy company had nearly doubled this year as the company raised its production growth target, with strong results in the Eagle Ford Shale and plans to drill more wells than previously expected.
Sterne Agee analyst Tim Rezvan started coverage of Carrizo with a "Buy" rating and $50 price target. The stock added 61 cents, or 1.5 percent, to $41.59 in afternoon trading Friday.
Rezvan said in a note Friday that Carrizo may add more drilling locations in the energy-rich Eagle Ford Shale in South Texas, where its oil production has surpassed company expectations.
The company has focused on the area. Carrizo announced last month that it was selling some assets in the Barnett Shale and the East Texas Shale in Texas and in the Marcellus Shale in Appalachia for about $250 million in cash to help it repay debt and fund capital spending — mostly in the Eagle Ford Shale.
Rezvan also predicted that the company will probably try to add to its property in the Utica Shale, an area across Ohio, New York and West Virginia that is considered a potentially rich natural gas resource.
The company has said that it is shifting toward oil and liquids-rich plays, and that the proceeds from the sale put it in a strong position to continue its Eagle Ford Shale development and ramp up its Utica Shale activity.
The stock gained 80 cents, or 2 percent, to $41.78 in afternoon trading. Earlier in the session, the shares hit $42.13, their highest point since July 2011.
NEW YORK (AP) -- Shares of Carrizo Oil & Gas Inc. rose to their highest level in more than two years on Friday as an analyst said that he expects further gains in the stock.
Shares of the energy company had nearly doubled this year as the company raised its production growth target, with strong results in the Eagle Ford Shale and plans to drill more wells than previously expected.
Sterne Agee analyst Tim Rezvan started coverage of Carrizo with a "Buy" rating and $50 price target. The stock added 61 cents, or 1.5 percent, to $41.59 in afternoon trading Friday.
Rezvan said in a note Friday that Carrizo may add more drilling locations in the energy-rich Eagle Ford Shale in South Texas, where its oil production has surpassed company expectations.
The company has focused on the area. Carrizo announced last month that it was selling some assets in the Barnett Shale and the East Texas Shale in Texas and in the Marcellus Shale in Appalachia for about $250 million in cash to help it repay debt and fund capital spending — mostly in the Eagle Ford Shale.
Rezvan also predicted that the company will probably try to add to its property in the Utica Shale, an area across Ohio, New York and West Virginia that is considered a potentially rich natural gas resource.
The company has said that it is shifting toward oil and liquids-rich plays, and that the proceeds from the sale put it in a strong position to continue its Eagle Ford Shale development and ramp up its Utica Shale activity.
The stock gained 80 cents, or 2 percent, to $41.78 in afternoon trading. Earlier in the session, the shares hit $42.13, their highest point since July 2011.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group