Energy Prospectus

I have updated my forecast model for Carrizo Oil & Gas. It will be posted to the website later today.

The company had a good 2nd quarter and they increased production guidance. However, they don't have very good hedges in place, so I am lowering my valuation by $5.60 to $60.40/share. This compares to First Call's price target of $58.19.

August 10: KLR Group upgrades Carrizo Oil & Gas (NASDAQ: CRZO) from Accumulate to Buy and lowers the price target from $52.00 to $51.00.

August 13: Carrizo Oil & Gas (CRZO) price target was increased to $59 from $57 at Cantor Fitzgerald, which reiterated its "buy" rating. "We are raising our price target and reiterating our 'buy' rating after incorporating lower well costs in the Eagle Ford and the additional Delaware Basin acreage acquired during the quarter," Cantor Fitzgerald analysts said.