“We believe CRZO shares are attractive based on the company’s above-peer average oil growth profile, which we estimate to be 30% in 2013, and a low relative valuation. CRZO’s production growth is expected to come primarily from a ramp-up in crude oil and condensate volumes from the Eagle Ford, with additional growth in the Niobrara, Marcellus and in 2014, the Utica. We anticipate the oil/gas mix will increase from 30% in 2012 to nearly 40% in 2013. Higher liquid volumes should significantly boost 2013 operating cash flow and ease any capital funding concerns that investors may have.,” Oppenheimer’s analyst wrote.
CRZO has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase cut their price target on shares of Carrizo Oil & Gas to $21.00 in a research note to investors on Thursday, February 21st. Separately, analysts at Zacks upgraded shares of Carrizo Oil & Gas from an underperform rating to a neutral rating in a research note to investors on Monday, February 18th. They now have a $21.80 price target on the stock. Finally, analysts at Capital One upgraded shares of Carrizo Oil & Gas from an add rating to a strong-buy rating in a research note to investors on Tuesday, February 5th. They now have a $31.00 price target on the stock, up previously from $28.00.
Seven analysts have rated the stock with a buy rating, three have issued an overweight rating, six have issued a hold rating, and one has issued a sell rating to the company’s stock. The stock currently has an average rating of overweight and a consensus target price of $28.71.
Carrizo Oil & Gas traded down 2.60% on Wednesday, hitting $22.88. Carrizo Oil & Gas has a 52-week low of $19.04 and a 52-week high of $31.62. The stock’s 50-day moving average is currently $21.72. The company has a market cap of $908.0 million and a price-to-earnings ratio of 16.90.
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