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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 2/10

vs
industry
vs
history
Equity to Asset 0.09
CRZO's Equity to Asset is ranked lower than
83% of the 427 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.50 vs. CRZO: 0.09 )
Ranked among companies with meaningful Equity to Asset only.
CRZO' s Equity to Asset Range Over the Past 10 Years
Min: 0.09  Med: 0.43 Max: 0.87
Current: 0.09
0.09
0.87
F-Score: 3
Z-Score: -3.10
M-Score: -4.31
WACC vs ROIC
13.33%
-3.47%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) -21.40
CRZO's Operating margin (%) is ranked higher than
64% of the 431 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -65.39 vs. CRZO: -21.40 )
Ranked among companies with meaningful Operating margin (%) only.
CRZO' s Operating margin (%) Range Over the Past 10 Years
Min: -297.15  Med: 19.71 Max: 31.75
Current: -21.4
-297.15
31.75
Net-margin (%) -352.17
CRZO's Net-margin (%) is ranked lower than
79% of the 431 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -80.19 vs. CRZO: -352.17 )
Ranked among companies with meaningful Net-margin (%) only.
CRZO' s Net-margin (%) Range Over the Past 10 Years
Min: -269.14  Med: 10.35 Max: 31.87
Current: -352.17
-269.14
31.87
ROE (%) -191.85
CRZO's ROE (%) is ranked lower than
90% of the 447 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -23.73 vs. CRZO: -191.85 )
Ranked among companies with meaningful ROE (%) only.
CRZO' s ROE (%) Range Over the Past 10 Years
Min: -149.29  Med: 6.02 Max: 23.27
Current: -191.85
-149.29
23.27
ROA (%) -59.60
CRZO's ROA (%) is ranked lower than
84% of the 494 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -13.48 vs. CRZO: -59.60 )
Ranked among companies with meaningful ROA (%) only.
CRZO' s ROA (%) Range Over the Past 10 Years
Min: -46.13  Med: 2.38 Max: 8.89
Current: -59.6
-46.13
8.89
ROC (Joel Greenblatt) (%) -68.96
CRZO's ROC (Joel Greenblatt) (%) is ranked lower than
75% of the 476 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -23.57 vs. CRZO: -68.96 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
CRZO' s ROC (Joel Greenblatt) (%) Range Over the Past 10 Years
Min: -56.58  Med: 6.33 Max: 12.52
Current: -68.96
-56.58
12.52
Revenue Growth (3Y)(%) -3.20
CRZO's Revenue Growth (3Y)(%) is ranked higher than
60% of the 364 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -8.60 vs. CRZO: -3.20 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
CRZO' s Revenue Growth (3Y)(%) Range Over the Past 10 Years
Min: -11  Med: 18.80 Max: 45.7
Current: -3.2
-11
45.7
» CRZO's 10-Y Financials

Financials (Next Earnings Date: 2016-08-04)


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow
Oprt. Cash Flow & Net Income

» Details

Guru Trades

Q2 2015

CRZO Guru Trades in Q2 2015

Kyle Bass 292,995 sh (+2171.10%)
RS Investment Management 826,292 sh (+9.02%)
Mariko Gordon 1,403,777 sh (+2.30%)
Diamond Hill Capital 148,706 sh (-0.18%)
Columbia Wanger 1,480,384 sh (-5.16%)
Paul Tudor Jones 6,860 sh (-44.88%)
» More
Q3 2015

CRZO Guru Trades in Q3 2015

Steven Cohen 272,900 sh (New)
Jim Simons 24,752 sh (New)
Columbia Wanger 1,750,000 sh (+18.21%)
RS Investment Management 910,938 sh (+10.24%)
Diamond Hill Capital 149,287 sh (+0.39%)
Kyle Bass Sold Out
Paul Tudor Jones Sold Out
Mariko Gordon 1,223,288 sh (-12.86%)
» More
Q4 2015

CRZO Guru Trades in Q4 2015

Paul Tudor Jones 6,998 sh (New)
Michael Price 106,000 sh (New)
Mariko Gordon 1,335,953 sh (+9.21%)
RS Investment Management 942,368 sh (+3.45%)
Diamond Hill Capital 149,287 sh (unchged)
Jim Simons Sold Out
Columbia Wanger 1,101,134 sh (-37.08%)
Steven Cohen 50,000 sh (-81.68%)
» More
Q1 2016

CRZO Guru Trades in Q1 2016

Jim Simons 620,842 sh (New)
Third Avenue Management 46,900 sh (New)
Columbia Wanger 1,192,452 sh (+8.29%)
Diamond Hill Capital 149,287 sh (unchged)
Michael Price 106,000 sh (unchged)
Steven Cohen Sold Out
Paul Tudor Jones Sold Out
Mariko Gordon 1,256,858 sh (-5.92%)
RS Investment Management 333,729 sh (-64.59%)
» More
» Details

Insider Trades

Latest Guru Trades with CRZO

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Business Description

Industry: Oil & Gas - E&P » Oil & Gas E&P
Compare:NYSE:WLL, NYSE:LPI, NYSE:MTDR, NYSE:KOS, NYSE:SM, OTCPK:SPGYF, NAS:PDCE, OTCPK:TUWOY, OTCPK:DETNF, OTCPK:PARXF, NYSE:CPE, NAS:VNOM, NYSE:OAS, OTCPK:CRNCY, NYSE:WPX, NYSE:ERF, OTCPK:SWTF, NYSE:AAV, OTCPK:DTNOF, NYSE:BTE » details
Traded in other countries:CO1.Germany,
Carrizo Oil & Gas Inc along with its subsidiaries is engaged in the exploration, development and production oil and gas from resource plays located in the United States.

Carrizo Oil & Gas Inc is a Houston-based independent energy company. The Company together with its subsidiaries is engaged in the exploration, development and production of oil and gas in the United States and United Kingdom. It explores in the Eagle Ford Shale in South Texas, the Niobrara Formation in Colorado, the Barnett Shale in North Texas, the Marcellus Shale in Pennsylvania, New York and West Virginia, the Utica Shale in Ohio and Pennsylvania, and the U.K. North Sea in its Huntington Field development project. It generates exploration prospects through geological and geophysical analysis of 3-D seismic and other data. It continues its primary exploration effort and capital program on resource plays, where individual wells tend to have lower risk and moderate potential, such as its development drilling in the Eagle Ford and Marcellus Shales. The Company's customers are Enterprise Products Operating, LLC, Shell Trading (U.S) Company, Enterprise Trading, Inc., DTE Energy Trading, Inc. The Company's competitors include integrated oil and gas companies and numerous independent oil and gas companies, individuals and drilling and income programs. Its operations are subject to various federal, state, local and foreign laws and government regulations.

Guru Investment Theses on Carrizo Oil & Gas Inc

Third Avenue Comments on Carrizo Oil & Gas - May 27, 2016

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) Since our initial purchase in February, Carrizo Oil & Gas has been a strong performer. With a solid balance sheet and a significant drilling inventory,we see Carrizo as a multi-year compounder into recovering oil prices, however long that takes.

Based in Houston, TX, Carrizo is an exploration and production company focused on oil and gas plays in the U.S. Its most important acreage is in the high quality core areas of the Eagle Ford shale in South Texas, the Delaware basin in the Permian in West Texas, and the Utica shale in Ohio. Carrizo's share price, like those of all oil and gas production companies, came under extreme price pressure in February, as the market sold off and investors feared sustained oil prices in the low-$20 per barrel range.

Carrizo is unique from our perspective as a small cap company thanks to its high quality acreage (what we call good rocks) and a strong balance sheet. It fits our criteria for creditworthiness, with a disciplined hedging program to forward sell 50% of production, and a recently re-determined borrowing base on its $600 million revolving loan versus $50 million drawn.

As for its acreage, Carrizo rocks aren't just good, their 88,000 acres in the Eagle Ford play in South Texas are great, with about 75% oil cuts and a PV103 break-even of $32.50 per barrel. Further, Carrizo has the ability to respond quickly to higher prices, with drilled but uncompleted inventory of 53 net Eagle Ford wells, which represents upwards of almost 12,000 barrels of oil equivalent production per day (B0Epd), or almost half of their current production run rate. With stronger prices, Carrizo has the balance sheet and the acreage to opportunistically increase production in 30 days through fracking and completing these wells. Moreover, it has a long horizon of drilling visibility with 53 planned Eagle Ford wells in 2016, vs. a base well inventory of 915 drilling locations and potentially an inventory of 2,100 locations with tighter spacing. Indeed, as good oil plays get better,

Carrizo has the sweet spot acreage in one of the best.



From Chip Rewey's second quarter 2016 Third Avenue Small-Cap Value Fund letter.



Check out Martin Whitman,Third Avenue Management latest stock trades

Top Ranked Articles about Carrizo Oil & Gas Inc

Third Avenue Comments on Carrizo Oil & Gas Guru stock highlight
Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) Since our initial purchase in February, Carrizo Oil & Gas has been a strong performer. With a solid balance sheet and a significant drilling inventory,we see Carrizo as a multi-year compounder into recovering oil prices, however long that takes.

Based in Houston, TX, Carrizo is an exploration and production company focused on oil and gas plays in the U.S. Its most important acreage is in the high quality core areas of the Eagle Ford shale in South Texas, the Delaware basin in the Permian in West Texas, and the Utica shale in Ohio. Carrizo's share price, like those of all oil and gas production companies, came under extreme price pressure in February, as the market sold off and investors feared sustained oil prices in the low-$20 per barrel range.

Carrizo is unique from our perspective as a small cap company thanks to its high quality acreage (what we call good rocks) and a strong balance sheet. It fits our criteria for creditworthiness, with Read more...

Ratios

vs
industry
vs
history
Forward P/E 54.05
CRZO's Forward P/E is ranked lower than
66% of the 68 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 25.91 vs. CRZO: 54.05 )
Ranked among companies with meaningful Forward P/E only.
N/A
P/B 13.01
CRZO's P/B is ranked lower than
98% of the 486 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9999.00 vs. CRZO: 13.01 )
Ranked among companies with meaningful P/B only.
CRZO' s P/B Range Over the Past 10 Years
Min: 0.74  Med: 2.70 Max: 16.09
Current: 13.01
0.74
16.09
P/S 4.14
CRZO's P/S is ranked lower than
67% of the 473 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 2.34 vs. CRZO: 4.14 )
Ranked among companies with meaningful P/S only.
CRZO' s P/S Range Over the Past 10 Years
Min: 1.27  Med: 4.83 Max: 12.9
Current: 4.14
1.27
12.9
POCF 4.74
CRZO's POCF is ranked higher than
52% of the 336 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 5.70 vs. CRZO: 4.74 )
Ranked among companies with meaningful POCF only.
CRZO' s POCF Range Over the Past 10 Years
Min: 1.66  Med: 6.01 Max: 21.08
Current: 4.74
1.66
21.08
Current Ratio 0.83
CRZO's Current Ratio is ranked lower than
67% of the 479 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.34 vs. CRZO: 0.83 )
Ranked among companies with meaningful Current Ratio only.
CRZO' s Current Ratio Range Over the Past 10 Years
Min: 0.26  Med: 0.69 Max: 2.52
Current: 0.83
0.26
2.52
Quick Ratio 0.83
CRZO's Quick Ratio is ranked lower than
65% of the 479 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.29 vs. CRZO: 0.83 )
Ranked among companies with meaningful Quick Ratio only.
CRZO' s Quick Ratio Range Over the Past 10 Years
Min: 0.26  Med: 0.69 Max: 2.52
Current: 0.83
0.26
2.52
Days Sales Outstanding 50.30
CRZO's Days Sales Outstanding is ranked lower than
65% of the 383 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 38.28 vs. CRZO: 50.30 )
Ranked among companies with meaningful Days Sales Outstanding only.
CRZO' s Days Sales Outstanding Range Over the Past 10 Years
Min: 36.15  Med: 77.33 Max: 113.85
Current: 50.3
36.15
113.85
Days Payable 101.72
CRZO's Days Payable is ranked higher than
60% of the 256 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 74.08 vs. CRZO: 101.72 )
Ranked among companies with meaningful Days Payable only.
CRZO' s Days Payable Range Over the Past 10 Years
Min: 229.21  Med: 322.87 Max: 735.56
Current: 101.72
229.21
735.56

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 12.99
CRZO's Price/Tangible Book is ranked lower than
96% of the 467 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.07 vs. CRZO: 12.99 )
Ranked among companies with meaningful Price/Tangible Book only.
CRZO' s Price/Tangible Book Range Over the Past 10 Years
Min: 0.69  Med: 2.14 Max: 12.54
Current: 12.99
0.69
12.54
Price/Median PS Value 0.85
CRZO's Price/Median PS Value is ranked lower than
57% of the 437 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.78 vs. CRZO: 0.85 )
Ranked among companies with meaningful Price/Median PS Value only.
CRZO' s Price/Median PS Value Range Over the Past 10 Years
Min: 0.29  Med: 0.83 Max: 2.4
Current: 0.85
0.29
2.4
Price/Peter Lynch Fair Value 0.89
CRZO's Price/Peter Lynch Fair Value is ranked lower than
99.99% of the 16 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9999.00 vs. CRZO: 0.89 )
Ranked among companies with meaningful Price/Peter Lynch Fair Value only.
CRZO' s Price/Peter Lynch Fair Value Range Over the Past 10 Years
Min: 0.47  Med: 2.51 Max: 183.13
Current: 0.89
0.47
183.13
Earnings Yield (Greenblatt) (%) -47.40
CRZO's Earnings Yield (Greenblatt) (%) is ranked lower than
73% of the 572 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -12.10 vs. CRZO: -47.40 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
CRZO' s Earnings Yield (Greenblatt) (%) Range Over the Past 10 Years
Min: -47.4  Med: 4.50 Max: 16.2
Current: -47.4
-47.4
16.2
Forward Rate of Return (Yacktman) (%) 5.98
CRZO's Forward Rate of Return (Yacktman) (%) is ranked higher than
76% of the 171 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -12.54 vs. CRZO: 5.98 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
CRZO' s Forward Rate of Return (Yacktman) (%) Range Over the Past 10 Years
Min: -76.4  Med: -18.60 Max: 57.3
Current: 5.98
-76.4
57.3

More Statistics

Revenue (TTM) (Mil) $410.4
EPS (TTM) $ -26.69
Beta2.36
Short Percentage of Float16.26%
52-Week Range $16.10 - 43.97
Shares Outstanding (Mil)58.78

Analyst Estimate


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Dec16 Dec17 Dec18
Revenue (Mil $) 467 569 702
EPS ($) 0.45 0.70 1.73
EPS w/o NRI ($) 0.45 0.70 1.73
EPS Growth Rate
(3Y to 5Y Estimate)
N/A
Dividends Per Share ($)
» More Articles for CRZO

Headlines

Articles On GuruFocus.com
Third Avenue Comments on Carrizo Oil & Gas May 27 2016 
Chip Rewey's Third Avenue Small-Cap Value Fund 2nd Quarter Commentary May 27 2016 
3 Reasons to Invest in Carrizo Oil & Gas Apr 07 2016 
Carrizo Oil & Gas: Expect Strong Results-Driven Rally Nov 05 2015 
Mariko Gordon's Stocks Trading with Low P/E Ratio Jul 16 2015 
Carrizo Oil and Gas: Eagle Ford Production Will Help It Deliver Upside May 10 2015 
Why Carrizo Oil And Gas Is a Good Buy Mar 24 2015 
Why This Oil Company Is a Good Buy Despite Weak Results Feb 27 2015 
Mariko Gordon's First Quarter Top Five May 15 2014 
Who Is Mariko Gordon? A Guru to Follow Aug 30 2013 

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