NasdaqGS:CRZO

Stock Analysis Report

Executive Summary

Carrizo Oil & Gas, Inc., an energy company, explores for, develops, and produces crude oil, natural gas liquids, and gas from resource plays primarily in the United States.


Snowflake Analysis

Good value with proven track record.


Similar Companies

Share Price & News

How has Carrizo Oil & Gas's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CRZO's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

5.0%

CRZO

6.5%

US Oil and Gas

-2.0%

US Market


1 Year Return

-23.0%

CRZO

-54.6%

US Oil and Gas

-15.1%

US Market

Return vs Industry: CRZO underperformed the US Oil and Gas industry which returned -4.2% over the past year.

Return vs Market: CRZO underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

CRZOIndustryMarket
7 Day5.0%6.5%-2.0%
30 Day23.5%-32.4%-19.7%
90 Day-9.3%-49.3%-23.2%
1 Year-23.0%-23.0%-52.8%-54.6%-13.4%-15.1%
3 Year-80.0%-80.0%-49.1%-54.1%10.9%3.7%
5 Year-81.1%-81.1%-53.2%-60.4%28.4%14.4%

Price Volatility Vs. Market

How volatile is Carrizo Oil & Gas's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Carrizo Oil & Gas undervalued compared to its fair value and its price relative to the market?

5.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CRZO ($7.83) is trading below our estimate of fair value ($8.3)

Significantly Below Fair Value: CRZO is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CRZO is good value based on its PE Ratio (1.2x) compared to the Oil and Gas industry average (10.2x).

PE vs Market: CRZO is good value based on its PE Ratio (1.2x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: CRZO's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: CRZO is good value based on its PB Ratio (0.5x) compared to the US Oil and Gas industry average (1x).


Next Steps

Future Growth

How is Carrizo Oil & Gas forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

-10.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CRZO's earnings are forecast to decline over the next 3 years (-10% per year).

Earnings vs Market: CRZO's earnings are forecast to decline over the next 3 years (-10% per year).

High Growth Earnings: CRZO's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CRZO's revenue (5.3% per year) is forecast to grow slower than the US market (7.5% per year).

High Growth Revenue: CRZO's revenue (5.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CRZO's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Carrizo Oil & Gas performed over the past 5 years?

40.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CRZO has a high level of non-cash earnings.

Growing Profit Margin: CRZO's current net profit margins (62%) are higher than last year (9.5%).


Past Earnings Growth Analysis

Earnings Trend: CRZO has become profitable over the past 5 years, growing earnings by 40.5% per year.

Accelerating Growth: CRZO's earnings growth over the past year (521.9%) exceeds its 5-year average (40.5% per year).

Earnings vs Industry: CRZO earnings growth over the past year (521.9%) exceeded the Oil and Gas industry -13.3%.


Return on Equity

High ROE: Whilst CRZO's Return on Equity (41.12%) is outstanding, this metric is skewed due to their high level of debt.


Next Steps

Financial Health

How is Carrizo Oil & Gas's financial position?


Financial Position Analysis

Short Term Liabilities: CRZO's short term assets ($138.9M) do not cover its short term liabilities ($331.7M).

Long Term Liabilities: CRZO's short term assets ($138.9M) do not cover its long term liabilities ($1.8B).


Debt to Equity History and Analysis

Debt Level: CRZO's debt to equity ratio (115.1%) is considered high.

Reducing Debt: CRZO's debt to equity ratio has increased from 106.2% to 115.1% over the past 5 years.


Balance Sheet

Inventory Level: CRZO has a high level of physical assets or inventory.

Debt Coverage by Assets: CRZO's debt is not covered by short term assets (assets are 0.1x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CRZO is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: CRZO is profitable, therefore cash runway is not a concern.


Next Steps

Dividend

What is Carrizo Oil & Gas's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate CRZO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CRZO's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CRZO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CRZO's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CRZO's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.3yrs

Average management tenure


CEO

Chip Johnson (62yo)

26s

Tenure

US$5,705,742

Compensation

Mr. Sylvester P. Johnson, Jr., IV, also known as Chip, serves as President, Chief Executive Officer and Director at Carrizo (Utica) LLC. Mr. Johnson has been the Chief Executive Officer and President of Ca ...


CEO Compensation Analysis

Compensation vs Market: Chip's total compensation ($USD5.71M) is above average for companies of similar size in the US market ($USD2.53M).

Compensation vs Earnings: Chip's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Sylvester Johnson
President26yrsUS$5.71m0.62% $4.7m
David Pitts
VP & CFO5.33yrsUS$3.14m0.14% $1.1m
J. Fisher
VP & COO14.75yrsUS$3.64m0.19% $1.5m
Gerald Morton
VP of Business Development & General Counsel11.92yrsUS$2.14m0.14% $1.1m
Gregory Conaway
VP & Chief Accounting Officer5.25yrsUS$481.32k0.032% $243.8k
Jim Pritts
Vice President of Technology & New Business Development1.58yrsno datano data
Gregory Percival
Chief Information Officer & VP5.83yrsno datano data
Shaleen Patel
Vice President of Corporate Development & Finance2.75yrsno datano data
Laura Kinningham
Vice President of Human Resources3.92yrsno datano data
Doug Reid
Vice President of Exploration4.83yrsno datano data

5.3yrs

Average Tenure

55yo

Average Age

Experienced Management: CRZO's management team is seasoned and experienced (5.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Sylvester Johnson
President26yrsUS$5.71m0.62% $4.7m
Steven Webster
Independent Chairman of the Board22.5yrsUS$398.76k3.31% $25.3m
Frank Wojtek
Independent Director26.92yrsUS$174.08k0.034% $257.2k
Roger Ramsey
Independent Director15.92yrsUS$270.40k0.050% $384.6k
F. Parker
Lead Independent Director7.58yrsUS$325.02k0.086% $655.3k
Thomas Carter
Independent Director14.75yrsUS$242.19k0.060% $457.9k
Robert Fulton
Independent Director7.08yrsUS$212.39k0.024% $184.7k
Frances Sevilla-Sacasa
Independent Director1.75yrsUS$216.74k0.0056% $42.4k

15.3yrs

Average Tenure

67.5yo

Average Age

Experienced Board: CRZO's board of directors are seasoned and experienced ( 15.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CRZO insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11%.


Top Shareholders

Company Information

Carrizo Oil & Gas, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Carrizo Oil & Gas, Inc.
  • Ticker: CRZO
  • Exchange: NasdaqGS
  • Founded: 1993
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: US$764.035m
  • Shares outstanding: 92.61m
  • Website: https://www.carrizo.com

Number of Employees


Location

  • Carrizo Oil & Gas, Inc.
  • 500 Dallas Street
  • Suite 2300
  • Houston
  • Texas
  • 77002
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CRZONasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDAug 1997
CO1DB (Deutsche Boerse AG)YesCommon StockDEEURAug 1997
0HTXLSE (London Stock Exchange)YesCommon StockGBUSDAug 1997

Biography

Carrizo Oil & Gas, Inc., an energy company, explores for, develops, and produces crude oil, natural gas liquids, and gas from resource plays primarily in the United States. The company holds interests in oil and gas plays, including the Eagle Ford Shale in South Texas; and the Permian Basin in West Texas. As of December 31, 2018, it had proved oil and gas reserves of 329.4 million barrels of oil equivalent. Carrizo Oil & Gas, Inc. was founded in 1993 and is based in Houston, Texas. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/20 23:32
End of Day Share Price2019/12/20 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.