Carrizo Oil & Gas Inc
Latest Carrizo Oil & Gas Inc News and Updates
What Are Analyst Recommendations for Apache?
Wall Street analysts gave mixed recommendations after Apache’s quarterly results. Apache shares fell 5% on November 6, 2015, after the earnings release.
Crude Oil Inventories Rose despite Oil Demand from US Refineries
The rise in US crude oil production would have contributed to the rise in US crude oil inventories between October 28 and November 4, 2016.
Iran and Iraq’s Role in OPEC’s Meeting
The EIA estimates that Iran’s crude oil production was flat at 3.81 MMbpd in April 2017—compared to March 2017. Production rose 8.8% YoY.
Cushing Crude Oil Inventories: What Does the Future Hold?
Bloomberg surveys projected that Cushing crude oil inventories fell by 0.7 MMbbls (million barrels) for the week ending June 3—compared to the previous week.
Crude Oil Continues to Trade Higher This Morning
Crude oil continues to trade higher due to positive sentiment surrounding the crude oil market. At 7:38 AM EST, WTI crude was trading at $44.88 per barrel.
Will Crude Oil Prices Test $60 per Barrel?
Brent crude oil prices could trade between $35 and $40 per barrel in 2016 due to a stronger dollar, oversupply, and near-record US crude oil inventories.
Southwestern Energy Is Trading Below Wall Street’s Median Target
Currently, ~10.0% of Wall Street analysts rate Southwestern Energy (SWN) a “strong buy,” 10.0% rate it a “buy,” and 65.0% rate it a “hold.”
Crude Oil Prices Fell below the 200-Day Moving Average
Crude oil prices were $50–$54 per barrel between December 2016 and early March 2017. Prices broke below $50 per barrel on March 9, 2017.
Which Oil-Weighted Stocks Could Outperform Oil’s Downturn?
On February 11, 2016, US crude oil touched a 12-year low. From February 11, 2016, to March 13, 2017, US crude oil active futures contracts rose 84.7%.
How the Crude Oil Market Could React to the Doha Oil Producers Meeting
A meeting of oil producers is scheduled in Doha, Qatar, for April 17. The meeting is meant to support crude prices and will focus on freezing production.
Where US Crude Oil Prices Could Close Next Week
On August 9, US crude oil’s implied volatility was 23.1%, which was ~1.3% below its 15-day average.
OPEC and the US Dollar Pressured Crude Oil Prices
The US Dollar Index fell 0.2% to 101.5 on November 25, 2016. However, it hit 102 on November 24, 2016—the highest level in nearly 14 years.
Are Oil-Weighted Stocks and US Crude Oil Deviating?
Between February 11, 2016, and April 4, 2018, US crude oil active futures rose 141.8% from their 12-year low.
Why Goldman Sachs Revised Its Crude Oil Price Forecast
Goldman Sachs (GS) forecast that Brent crude oil prices could test $50 per barrel in 2H16 due to recent supply outages.
US Crude Oil Inventory Report Might Disappoint Traders
An unexpected increase in US oil inventories pressured WTI oil (USO) (UCO) prices in post-settlement trade on November 28, 2017.
Crude Oil Prices Drop on Speculation of a US Shale Rebound
WTI crude oil futures for June delivery declined slightly by 0.24% and closed at $59.25 per barrel on May 11. The EIA released the monthly drilling report yesterday.
Will US Crude Oil Prices Outperform in 2H17?
WTI crude oil (BNO) (PXI) (UCO) (XOP) prices have fallen 18% year-to-date. They have fallen 7% in the past year due to bearish drivers.
OPEC’s Crude Oil Production: Key for Crude Oil Traders?
A Bloomberg survey estimates that OPEC’s crude oil production rose by 315,000 bpd to 32.21 MMbpd in May 2017—compared to the previous month.
The Big Push for Oil this Year
Between September 14 and 21, US crude oil November futures rose 2.9% and closed at $70.78 per barrel. Let’s take a closer look.
This Wall Street Target Price Indicates Upside for Marathon Oil
Currently, ~54% of Wall Street analysts rate Marathon Oil (MRO) as a “buy” and ~43% of analysts rate it as a “hold.”
Can US Crude Oil’s Recovery Be Sustained?
On June 11, US crude oil July futures rose 0.5% and settled at $66.10 per barrel.
Crude Oil Fell Again: What about Oil-Weighted Stocks?
On July 11, 2016, US crude oil closed at $44.76 per barrel. That’s 1.4% below its previous closing price. That’s also 12.6% below its highest level for 2016.
Global Oil Supply after the US Exits the Iran Nuclear Deal
On May 10, the United States Oil ETF (USO) rose 0.3%. On May 3–10, US crude oil June futures rose 4.3%.
A Look at E&P Stocks’ Rating Updates Last Week
Carrizo Oil & Gas (CRZO) saw a target price cut by SunTrust Robinson Humphrey last week.
Why Morgan Stanley Expects Crude Oil Prices to Trend even Lower
As of the end of April, crude oil prices had rallied by almost 70% since the lows of February 2016. But prices were still ~60% lower than in June 2014.
Which Oil-Weighted Stocks Might Be Most Affected by OPEC Meeting?
On December 5, US crude oil January futures fell 0.7% and closed at $52.89 per barrel.
Crude Oil Prices Follow a Long-Term Trend, Could Hit $25 per Barrel
Crude oil prices have fallen almost 29% in 2016. Prices have fallen to 12-year lows. They’re following a long-term bearish trend.
Crude Oil Up on September 21 Due to Drop in Inventory Levels
After posting moderate gains on Tuesday, September 20, crude oil prices inched higher on Wednesday, September 21, amid a drop in inventory levels. Crude oil prices also took support from the oil service workers’ strike in Norway.
Oil Might Feel Pressure from US-China Trade Talks on January 28
Between January 18 and January 25, US crude oil March futures fell 0.6% and closed at $53.69 despite a fall in the US dollar.
How OPEC and Non-OPEC Producers Affect Crude Oil Prices
Crude oil (BNO) (PXI) (USL) (USO) (UCO) prices were up ~4% between December 7, 2016, and December 19, 2016.
Crude Oil Inched Higher ahead of the Brexit Vote
After showing weakness on June 22 due to the disappointing inventory report, crude oil started Thursday on a positive note.
Crude Oil Prices Were Weaker amid Mixed Sentiments
Crude oil prices were weaker in the early morning trading hours of July 19 amid mixed sentiments.
Crude Oil Remained Stable in the Early Morning on August 12
After gaining more than 4% on August 11, crude oil prices remained stable at three-week high levels in the early morning hours on August 12.
Federal Reserve and OPEC Pressure Crude Oil Prices
On December 14, the Federal Reserve reported that it would raise the interest rate by 25 basis points. As a result, the US Dollar Index appreciated by 0.7%.
Near-Record US Crude Oil Inventory: Will Oil Blood Bath Continue?
June WTI crude oil futures contracts fell 0.40% and were trading at $48.68 per barrel in electronic trade at 2:35 AM EST on May 2, 2017.
Oil Prices Passed $50—a Key Psychological Number
US crude oil prices briefly breached the psychologically significant mark of $50 per barrel.
EIA Inventory Data: Impact on Oil
On April 24, the EIA (U.S. Energy Information Administration) is scheduled to announce last week’s US crude oil inventory data.
Oil-Weighted Stocks at Maximum Risk, Oil Declines
On October 17, US crude oil November futures fell 3% and closed at $69.75 per barrel—below $70 for the first time since September 18.
Crude Oil Falling to $30? Which Oil-Weighted Stocks to Avoid
On March 27, 2017, WTI (West Texas Intermediate) crude oil May futures closed at $47.73 per barrel, ~0.5% lower than their previous closing price.
Will the US Dollar and Inventories Impact Crude Oil Futures?
March US crude oil (DBO) (UWT) futures contracts increased 1.8% to $65.61 per barrel on January 24, 2018.
Futures Spread: OPEC’s Deal Might Not Impact Oil
On December 10, the futures spread was at a discount of ~$1.4. On December 10–17, US crude oil February futures fell 2%.
Oil Wasn’t the Only Catalyst for Oil-Weighted Stocks
The high correlation indicates a stronger positive relationship between oil-weighted stocks and US crude oil prices.
Weakest Upstream Stocks in the Week Ending September 28
Southwestern Energy (SWN) was the weakest upstream stock in the week ending September 28. Southwestern Energy fell 10.8% last week.
Upstream and Oilfield Services Stock Fell Last Week
On December 7–14, upstream stock Carrizo Oil & Gas (CRZO) fell the most on our list of energy stocks.
Oil’s Flip-Flop: Which Oil-Weighted Stocks to Track?
Oil prices fell because of growing concerns about rising US crude oil production. The US oil rig count rose by 15 to 566 for the week ending on January 27.
Libya’s Crude Oil Production Could Rise in June
Reuters surveys estimate that Libya’s crude oil production rose by 180,000 bpd (barrels per day) to 730,000 bpd in May 2017—a three-year high.
Weakest Upstream Stocks in the Week Ending October 5
Ring Energy (REI) was the weakest upstream stock in the week ending October 5. Ring Energy fell 17.4% last week.
US Gasoline Demand: Bullish or Bearish for Oil Prices?
The EIA (U.S. Energy Information Administration) estimated that four-week average US gasoline demand rose by 6,000 bpd to 9,317,000 bpd on April 7–14.
Will Russia’s Crude Oil Production Impact Crude Oil Prices?
Russia is the largest crude oil producer in the world. Its crude oil production was flat at 11.1 MMbpd in February 2017—compared to the previous month.
Will the EIA’s Crude Oil Inventories Support Crude Oil Bulls?
On April 18, 2017, the API released its weekly crude oil inventory report. It reported that US crude oil inventories fell by 0.84 MMbbls from April 7–14.
Crude Oil’s Comeback: Analyzing Oil-Weighted Stocks
On August 15, 2016, US crude oil (USO) (OIIL) (USL) (SCO) contracts for September delivery closed at $45.74 per barrel—2.8% above its previous closing price.
EOG Resources’ Stock Price Reached This Target in 2Q16
As of August 5, ~49% of Wall Street analysts rate EOG Resources as a “buy,” and ~49% of analysts rate it as a “hold.” About 2% rate the stock as a “sell.”
Why Laredo Petroleum Is Surging Today
Laredo Petroleum (LPI) stock is up more than 9% on strong volumes. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) is up ~1.5%.
US Crude Oil Production Could Hit a Record
The EIA reported that US crude oil production rose by 32,000 bpd (barrels per day) to 9,429,000 bpd on July 7–14, 2017. Production is at a two-year high.
Crude Oil Reached 5-Week High Price Levels
After gaining for five consecutive trading days, crude oil is trading at five-week high price levels in the early morning hours on August 18.
What’s Causing Oasis Petroleum’s Stock Rise?
Oasis Petroleum (OAS) stock rose significantly in the run-up to the company’s Q1 2018 earnings release in early May, which didn’t disappoint.
Apache Stock: What Are Analysts’ Recommendations?
On June 11, Argus upgraded Apache stock from “hold” to “buy.” On March 7, UBS initiated coverage on Apache stock with a “sell” rating.
US Distillate Inventories Fell for the Third Time in 10 Weeks
US distillate inventories fell by 3.8 MMbbls or 2.7% to 139.2 MMbbls on January 5–12, 2018. The inventories fell by 29.9 MMbbls or 18% from a year ago.
Global Oil Demand and Crude Oil Price Forecasts
In June 2017, global oil demand growth rose by 1.54 MMbpd YoY. Global oil demand was strong between May and June 2017, according to Goldman Sachs.
Why Did Crude Oil Fall on Thursday, September 1?
After declining for three consecutive trading days, crude oil prices started Thursday, September 1, on a weaker note and declined as the day progressed. At 1:05 PM EDT on Thursday, the WTI crude oil futures contract for October delivery was trading at $43.44 per barrel, a drop of ~2.8%.
Monthly US Crude Oil Production Hit May 2016 High
The EIA reported that monthly US crude oil production rose by 60,000 bpd (barrels per day) to 8.8 MMbpd in January 2017—compared to the previous month.
What US Crude Oil Production’s 26-Month High Could Mean
On September 27, 2017, the EIA estimated that US crude oil production rose 37,000 bpd (barrels per day) to ~9.5 MMbpd from September 15–22, 2017.
How Did US Crude Oil ETFs Perform Last Week?
On December 7–14, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 2.6% and 2.3%, respectively.
Oil-Weighted Stocks Could Be Influenced by Volatile Oil Prices
On December 19, US crude oil February futures rose 3.4% from the lowest closing level in more than a year and closed at $48.17 per barrel.
US Crude Oil below $60 Might Harm Oil-Weighted Stocks
On November 14, US crude oil December futures rose 1% and closed at $56.25 per barrel.
Crude Oil Strong on July 1 despite Increase in Oil Rig Count
Although crude oil started the day on a weaker note, it regained strength on Friday, July 1. Baker Hughes reported that the oil rig count increased for the fourth time in the past five weeks, adding 11 new rigs to reach 341 rigs.
US Gasoline Inventories Fell for the Seventh Straight Week
US gasoline inventories hit 259.1 MMbbls for the week ending February 10, 2017—the highest level ever. Inventories are 8% below their all-time high.
Oil Heading for Flat Weekly Close
On May 9, US crude oil June futures fell 0.7% and settled at $61.7 per barrel.
How OPEC’s Spare Crude Oil Production Capacity Is Recovering
The EIA estimates that OPEC’s spare crude oil production capacity rose 35,000 bpd (barrels per day) to 2 MMbpd (million barrels per day) in August 2017.
Why Did UNG Outperform USO?
From June 23—30, the United States Natural Gas ETF (UNG) outperformed the United States Oil ETF (USO). UNG rose ~6.8%, while USO fell ~3.4%.
WTI and Brent Crude Oil Prices Fall Due to Profit-Booking
April WTI crude oil futures contracts fell by 3.7% and settled at $36.5 per barrel on March 8. Brent crude oil prices also fell by 2.9% and closed at $39.7 per barrel.
How Did Crude Oil Perform on Tuesday, May 31?
Crude oil had a volatile trading day on Tuesday, May 31, 2016. At 1:40 PM EDT, WTI crude for July delivery traded at $49.67 per barrel, a gain of 0.67%.
Cushing Inventories Fell 8 Times in 10 Weeks
A market survey estimates that Cushing inventories fell between August 18 and August 25, 2017. Cushing inventories fell for the eighth time in ten weeks.
What Are Wall Street Analysts Saying about Southwestern Energy?
As of February 3, 2017, 40 analysts have provided recommendations on SWN, including four “buys” and 28 “holds.”
Will Oil Continue Its Upside After EIA Data?
Since the EIA released its inventory data on July 17, US crude oil September futures have fallen 1.2%.
Top Gains in the Energy Sector Last Week
In the week ending on April 26, upstream stock Anadarko Petroleum (APC) rose the most among the stocks in the energy space.
Oil: Futures Spread and Prices Are Diverging
On February 25, US crude oil April 2019 futures closed ~$1.8 below the April 2020 futures.
Weatherford International Outperformed the Energy Space
Weatherford International (WFT) outperformed the energy space for the second consecutive week.
Is EP Energy Increasing Its Focus on Eagle Ford?
In February, EP Energy (EPE) announced that it had closed the acquisition of Carrizo Oil & Gas’s (CRZO) Eagle Ford assets.
Are Oil-Weighted Stocks Inversely Related to Oil Prices?
On May 9, US crude oil June futures rose 3% and closed at $71.14 per barrel—more than the three-year high.
US Crude Oil Inventory Data: What to Expect
In the week ending April 20, US crude oil inventories rose by ~2.17 MMbbls (million barrels) to ~429.7 MMbbls.
Are Oil-Weighted Stocks Rising Faster than Oil?
Between February 11, 2016, and April 11, 2018, US crude oil active futures rose 154.9% from their 12-year low.
Are Oil-Weighted Stocks Falling More than Oil?
Between February 11, 2016, and March 28, 2018, US crude oil active futures rose 145.6% from their 12-year low.
Wall Street’s Targets for the Worst-Performing Upstream Stocks
We’ll now look at Wall Street’s recommendations for the worst performers in 2018 from the US oil and gas production, or upstream, sector.
Which Energy Stocks Fell More than the Oil Market Last Week?
On February 23–March 2, 2018, upstream stock California Resources (CRC) was the largest loser on our list of energy stocks.
US Gasoline Inventories: More Concerns for Oil in 2018?
US gasoline inventories rose by 4.1 MMbbls (million barrels) to 237.3 MMbbls between December 29, 2017, and January 5, 2018.
Implied Volatility of Top 5 Return on Equity Upstream Stocks
Carrizo Oil & Gas (CRZO) has the highest implied volatility among its peers, while Devon Energy (DVN) has the lowest implied volatility.
The Top 5 Upstream Companies Based on Return on Equity
The company with the highest trailing 12-month ROE (return on equity) as of 3Q17 is Carrizo Oil & Gas (CRZO) with an ROE of 52.1%.
Northern Oil and Gas Leads Upstream Gainers This Week
In the week starting January 1, Northern Oil and Gas (NOG) increased from last week’s close of $2.05 to $2.54 on January 2, a significant increase of ~24%.
A Look at Breakeven Prices and Trends i n Eagle Ford Well
According to IHS, the top quintile wells are dominated by EOG Resources (EOG), Marathon Oil (MRO), and ConocoPhillips (COP).
Where Whiting Petroleum Stands Next to Peers
Whiting Petroleum’s (WLL) forward EV-to-EBITDA multiple of ~5.4x is mostly in line with the peer average of 5.5x.
Cushing Inventories Are above Their 5-Year Average
Cushing crude oil inventories rose for the sixth consecutive week. Any rise in Cushing inventories is bearish for crude oil (USO) (USL) (SCO) prices.
US Gasoline Demand: Are the Crude Oil Bears Taking Control?
Weekly US gasoline demand rose by 81,000 bpd to 9.5 MMbpd on September 15–22, 2017. Gasoline demand rose by 642,000 bpd or 7.2% YoY.
Whiting Petroleum Was the Top Energy Gainer Last Week
On September 8–15, 2017, upstream company Whiting Petroleum (WLL) outperformed the energy sector stocks.
Why US Distillate Inventories Fell for the 2nd Week Straight
The EIA (U.S. Energy Information Administration) estimates that US distillate inventories fell by 3.2 MMbbls (million barrels) to 144.5 MMbbls from September 1 to 8.
Will US Gasoline Demand Impact Gasoline and Crude Oil Futures?
The EIA estimates that weekly US gasoline demand rose 107,000 bpd (barrels per day), or 1.1%, to 9.6 MMbpd between August 11 and August 18.
US Gasoline Inventories Limit the Upside for Crude Oil Futures
US gasoline inventories rose by 3.4 MMbbls to 231.1 MMbbls on July 28–August 4, 2017. Inventories rose for the third time in the last ten weeks.
US Dollar Recovers from a 13-Month Low
The US Dollar Index rose 0.77% to 93.7 on August 4, 2017. The US dollar rose due to the better-than-expected rise in US unemployment data.
US Crude Oil Production Reached a 2-Year High
The EIA estimates that US crude oil production rose by 20,000 bpd or 0.2% to 9,430,000 bpd on July 21–28, 2017. Production is at a two-year high.
Problems for Crude Oil Bulls as OPEC Production Hits 2017 High
September US crude oil futures contracts rose 0.20% and were trading at $50.29 per barrel in electronic trading at 1:35 AM EST on August 1, 2017.