| MLV & Co Reiterates Buy, Lowers PT On Carrizo Oil & Gas On Equity Offering | |
| | |
|
In a report published Tuesday, MLV & Co analyst Chad Mabry reiterated a Buy rating on Carrizo Oil & Gas, Inc. (NASDAQ: CRZO), but lowered the price target from $65.00 to $60.00.
In the report, MLV & Co noted, "Sometimes it's best to raise capital when you can, not when you need to. That's certainly true for CRZO, whose stock was +14% YTD and -5% y/y—outperforming its benchmark, the EPX, at -1% YTD and -28% y/y—on sound operational execution and a strong balance sheet. From that position of relative strength, the company went to market last week with a common equity offering. While our NAV-based price target declines to $60 (from $65) on the dilution, we can't fault management's rationale as near-term downside risks to commodity prices remain quite real."
Carrizo Oil & Gas closed on Monday at $45.86.
Latest Ratings for CRZO
| Date | Firm | Action | From | To |
|---|
| Mar 2015 | Scotia Howard | Upgrades | Sector Perform | Sector Outperform | | Feb 2015 | KLR Group | Downgrades | Buy | | | Jan 2015 | Credit Suisse | Maintains | | Neutral |
View More Analyst Ratings for CRZO
View the Latest Analyst Ratings
See more from Benzinga © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
|
|
|
Carrizo Oil & Gas Inc.
|
|
|
|
CODE : CRZO |
|
ISIN : US1445771033 |
|
|
| |
ProfileMarket
IndicatorsVALUE :
Projects & res.Press
releasesAnnual
reportRISK :
Asset profileContact Cpy |
Carrizo Oil & Gas is a oil development stage company based in United states of america. Carrizo Oil & Gas is listed in Germany and in United States of America. Its market capitalisation is US$ 637.9 millions as of today (€ 575.9 millions). Its stock quote reached its lowest recent point on December 31, 1999 at US$ 1.00, and its highest recent level on July 12, 2019 at US$ 10.00. Carrizo Oil & Gas has 81 469 593 shares outstanding. |