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Carrizo Oil & Gas

Nasdaq:CRZO
Snowflake Description

Undervalued with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CRZO
Nasdaq
$990M
Market Cap
  1. Home
  2. US
  3. Energy
Company description

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 last earnings update was 67 days ago. More info.


Add to Portfolio Compare Print
  • Carrizo Oil & Gas has significant price volatility in the past 3 months.
CRZO Share Price and Events
7 Day Returns
11.1%
NasdaqGS:CRZO
1.9%
US Oil and Gas
0.8%
US Market
1 Year Returns
-61.3%
NasdaqGS:CRZO
-15.5%
US Oil and Gas
4.8%
US Market
CRZO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Carrizo Oil & Gas (CRZO) 11.1% 17.3% -14.1% -61.3% -70.9% -83.9%
US Oil and Gas 1.9% 6.1% -4.6% -15.5% -4.9% -35.8%
US Market 0.8% 4.3% 2.8% 4.8% 37.9% 43.5%
1 Year Return vs Industry and Market
  • CRZO underperformed the Oil and Gas industry which returned -15.5% over the past year.
  • CRZO underperformed the Market in United States of America which returned 4.8% over the past year.
Price Volatility
CRZO
Industry
5yr Volatility vs Market

Value

 Is Carrizo Oil & Gas undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Carrizo Oil & Gas to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Carrizo Oil & Gas.

NasdaqGS:CRZO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:CRZO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.93
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.929 (1 + (1- 21%) (181.47%))
1.845
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.845 * 5.96%)
13.73%

Discounted Cash Flow Calculation for NasdaqGS:CRZO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Carrizo Oil & Gas is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:CRZO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 13.73%)
2020 92.39 Analyst x12 81.24
2021 168.30 Analyst x3 130.12
2022 0.00 Analyst x1 0.00
2023 3,844.50 Analyst x1 2,298.18
2024 6,785.41 Est @ 76.5% 3,566.62
2025 10,474.40 Est @ 54.37% 4,841.13
2026 14,546.39 Est @ 38.88% 5,911.65
2027 18,624.02 Est @ 28.03% 6,655.23
2028 22,431.02 Est @ 20.44% 7,048.15
2029 25,824.37 Est @ 15.13% 7,134.96
Present value of next 10 years cash flows $37,667.29
NasdaqGS:CRZO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $25,824.37 × (1 + 2.73%) ÷ (13.73% – 2.73%)
$241,240.74
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $241,240.74 ÷ (1 + 13.73%)10
$66,651.93
NasdaqGS:CRZO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $37,667.29 + $66,651.93
$104,319.22
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $104,319.22 / 92.50
$1127.72
NasdaqGS:CRZO Discount to Share Price
Calculation Result
Value per share (USD) From above. $1,127.72
Current discount Discount to share price of $10.70
= -1 x ($10.70 - $1,127.72) / $1,127.72
99.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Carrizo Oil & Gas is available for.
Intrinsic value
>50%
Share price is $10.7 vs Future cash flow value of $1127.72
Current Discount Checks
For Carrizo Oil & Gas to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Carrizo Oil & Gas's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Carrizo Oil & Gas's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Carrizo Oil & Gas's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Carrizo Oil & Gas's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:CRZO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $5.76
NasdaqGS:CRZO Share Price ** NasdaqGS (2019-07-15) in USD $10.7
United States of America Oil and Gas Industry PE Ratio Median Figure of 101 Publicly-Listed Oil and Gas Companies 13.19x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 18.01x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Carrizo Oil & Gas.

NasdaqGS:CRZO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:CRZO Share Price ÷ EPS (both in USD)

= 10.7 ÷ 5.76

1.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Carrizo Oil & Gas is good value based on earnings compared to the US Oil and Gas industry average.
  • Carrizo Oil & Gas is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Carrizo Oil & Gas's expected growth come at a high price?
Raw Data
NasdaqGS:CRZO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 1.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
-15.2%per year
United States of America Oil and Gas Industry PEG Ratio Median Figure of 79 Publicly-Listed Oil and Gas Companies 0.45x
United States of America Market PEG Ratio Median Figure of 2,124 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

NasdaqGS:CRZO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 1.86x ÷ -15.2%

-0.12x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Carrizo Oil & Gas earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Carrizo Oil & Gas's assets?
Raw Data
NasdaqGS:CRZO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $12.23
NasdaqGS:CRZO Share Price * NasdaqGS (2019-07-15) in USD $10.7
United States of America Oil and Gas Industry PB Ratio Median Figure of 196 Publicly-Listed Oil and Gas Companies 1.1x
United States of America Market PB Ratio Median Figure of 5,240 Publicly-Listed Companies 1.81x
NasdaqGS:CRZO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:CRZO Share Price ÷ Book Value per Share (both in USD)

= 10.7 ÷ 12.23

0.87x

* Primary Listing of Carrizo Oil & Gas.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Carrizo Oil & Gas is good value based on assets compared to the US Oil and Gas industry average.
X
Value checks
We assess Carrizo Oil & Gas's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Carrizo Oil & Gas has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Carrizo Oil & Gas expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-15.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Carrizo Oil & Gas expected to grow at an attractive rate?
  • Carrizo Oil & Gas's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Carrizo Oil & Gas's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Carrizo Oil & Gas's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:CRZO Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:CRZO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts -15.2%
NasdaqGS:CRZO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 4.7%
United States of America Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 12.9%
United States of America Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:CRZO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:CRZO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,406 824 271 1
2022-12-31 1,220 739 255 1
2021-12-31 1,007 761 233 4
2020-12-31 1,083 720 278 11
2019-12-31 1,023 663 371 11
NasdaqGS:CRZO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,023 640 508
2018-12-31 1,015 654 376
2018-09-30 1,001 608 98
2018-06-30 886 520 27
2018-03-31 794 485 53
2017-12-31 713 423 78
2017-09-30 616 356 101
2017-06-30 549 326 -6
2017-03-31 492 295 -324
2016-12-31 425 273 -675
2016-09-30 382 292 -1,055
2016-06-30 378 339 -1,663

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Carrizo Oil & Gas's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Carrizo Oil & Gas's revenue is expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:CRZO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Carrizo Oil & Gas Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:CRZO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.94 2.94 2.94 1.00
2022-12-31 2.77 2.77 2.77 1.00
2021-12-31 2.44 2.63 2.25 2.00
2020-12-31 3.05 3.94 2.28 10.00
2019-12-31 4.15 5.52 2.75 8.00
NasdaqGS:CRZO Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 5.76
2018-12-31 4.40
2018-09-30 1.18
2018-06-30 0.33
2018-03-31 0.69
2017-12-31 1.07
2017-09-30 1.47
2017-06-30 -0.09
2017-03-31 -5.26
2016-12-31 -11.27
2016-09-30 -18.14
2016-06-30 -29.52

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Carrizo Oil & Gas will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Carrizo Oil & Gas's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Carrizo Oil & Gas has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Carrizo Oil & Gas's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Carrizo Oil & Gas's year on year earnings growth rate has been positive over the past 5 years.
  • Carrizo Oil & Gas's 1-year earnings growth exceeds its 5-year average (854.2% vs 19.2%)
  • Carrizo Oil & Gas's earnings growth has exceeded the US Oil and Gas industry average in the past year (854.2% vs 29.5%).
Earnings and Revenue History
Carrizo Oil & Gas's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Carrizo Oil & Gas Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:CRZO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,023.11 507.54 66.06
2018-12-31 1,015.35 376.08 68.62
2018-09-30 1,000.98 97.52 75.27
2018-06-30 885.66 26.98 78.49
2018-03-31 793.51 53.19 71.82
2017-12-31 713.38 78.47 66.23
2017-09-30 615.75 101.12 65.25
2017-06-30 548.50 -5.63 67.34
2017-03-31 491.86 -324.06 75.37
2016-12-31 424.55 -675.47 74.97
2016-09-30 381.88 -1,055.37 71.39
2016-06-30 377.56 -1,662.96 57.48
2016-03-31 393.32 -1,447.80 56.95
2015-12-31 411.52 -1,157.89 67.22
2015-09-30 472.87 -647.76 66.43
2015-06-30 558.72 144.00 71.76
2015-03-31 625.55 194.19 80.35
2014-12-31 680.64 222.28 77.03
2014-09-30 648.85 70.62 89.25
2014-06-30 599.76 -6.67 99.43
2014-03-31 544.10 25.96 89.58
2013-12-31 500.37 21.86 77.49
2013-09-30 479.35 60.84 65.46
2013-06-30 433.36 53.18 58.10
2013-03-31 384.41 43.03 53.35
2012-12-31 354.64 51.18 48.71
2012-09-30 304.86 36.83 50.46

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Carrizo Oil & Gas made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • Carrizo Oil & Gas used its assets more efficiently than the US Oil and Gas industry average last year based on Return on Assets.
  • Carrizo Oil & Gas has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Carrizo Oil & Gas's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Carrizo Oil & Gas has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Carrizo Oil & Gas's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Carrizo Oil & Gas's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Carrizo Oil & Gas's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Carrizo Oil & Gas's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Carrizo Oil & Gas's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Carrizo Oil & Gas Company Filings, last reported 3 months ago.

NasdaqGS:CRZO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,306.95 1,714.76 2.17
2018-12-31 1,155.33 1,633.59 2.28
2018-09-30 894.97 1,327.69 2.42
2018-06-30 599.33 1,502.31 2.10
2018-03-31 563.40 1,442.90 4.89
2017-12-31 585.16 1,629.21 9.54
2017-09-30 602.08 1,701.44 5.09
2017-06-30 131.83 1,521.99 2.23
2017-03-31 69.93 1,362.05 2.39
2016-12-31 23.46 1,325.42 4.19
2016-09-30 -205.36 1,333.80 3.24
2016-06-30 -110.42 1,298.20 2.16
2016-03-31 144.90 1,267.15 2.16
2015-12-31 444.05 1,236.02 42.92
2015-09-30 578.38 1,412.22 2.00
2015-06-30 1,280.01 1,372.79 2.00
2015-03-31 1,319.56 1,251.59 2.54
2014-12-31 1,103.44 1,351.35 10.84
2014-09-30 961.88 1,019.79 7.16
2014-06-30 869.91 1,021.61 8.62
2014-03-31 853.23 900.43 62.42
2013-12-31 841.60 900.25 157.44
2013-09-30 668.08 987.07 5.73
2013-06-30 658.25 927.90 3.85
2013-03-31 616.80 968.66 71.65
2012-12-31 585.02 967.81 52.10
2012-09-30 561.62 1,013.96 14.29
  • Carrizo Oil & Gas's level of debt (131.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (105.7% vs 131.5% today).
  • Debt is well covered by operating cash flow (37.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.7x coverage).
X
Financial health checks
We assess Carrizo Oil & Gas's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Carrizo Oil & Gas has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Carrizo Oil & Gas dividends. Estimated to be 0% next year.
If you bought $2,000 of Carrizo Oil & Gas shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Carrizo Oil & Gas's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Carrizo Oil & Gas's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:CRZO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
United States of America Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 67 Stocks 3.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2018 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:CRZO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 2.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Carrizo Oil & Gas has not reported any payouts.
  • Unable to verify if Carrizo Oil & Gas's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Carrizo Oil & Gas's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Carrizo Oil & Gas has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Carrizo Oil & Gas's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Carrizo Oil & Gas's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Carrizo Oil & Gas afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Carrizo Oil & Gas has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Carrizo Oil & Gas's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Chip Johnson
COMPENSATION $5,705,742
AGE 62
TENURE AS CEO 25.6 years
CEO Bio

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 Carrizo Oil & Gas Inc. since December 1993. Mr. Johnson serves as the President of Mescalero Pipeline, LLC, Carrizo (Utica) LLC and CLLR, Inc. and Hondo Pipeline, Inc. Since December 1993. He worked at Shell Oil Company for 15 years. His managerial positions included Operations Superintendent, Manager of Planning and Finance and Manager of Development Engineering. He serves as a Director of Carrizo (Utica) LLC, Mescalero Pipeline, LLC, CLLR, Inc. and Hondo Pipeline, Inc. He has been a Director at Carrizo Oil & Gas Inc. since December 1993. He serves as a Director at Ensource Energy Partners LP - General Partner of Ensource Energy Income Fund LP. He served as an Independent Director at Basic Energy Services, Inc. from 2001 to December 23, 2016. He served as a Director of Summit Gas Resources, Inc. from June 2003 to January 25, 2011. Mr. Johnson is a Registered Petroleum Engineer. He holds B.S Degree in Mechanical Engineering from the University of Colorado.

CEO Compensation
  • Chip's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Chip's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Carrizo Oil & Gas management team in years:

4.9
Average Tenure
55
Average Age
  • The tenure for the Carrizo Oil & Gas management team is about average.
Management Team

Chip Johnson

TITLE
President
COMPENSATION
$6M
AGE
62
TENURE
25.6 yrs

David Pitts

TITLE
VP & CFO
COMPENSATION
$3M
AGE
52
TENURE
4.9 yrs

Brad Fisher

TITLE
VP & COO
COMPENSATION
$4M
AGE
58
TENURE
14.3 yrs

Gerald Morton

TITLE
VP of Business Development & General Counsel
COMPENSATION
$2M
AGE
61
TENURE
11.5 yrs

Greg Conaway

TITLE
VP & Chief Accounting Officer
COMPENSATION
$481K
AGE
44
TENURE
4.8 yrs

Jim Pritts

TITLE
Vice President of Technology & New Business Development
AGE
61
TENURE
1.2 yrs

Greg Percival

TITLE
Chief Information Officer & VP
AGE
50
TENURE
5.4 yrs

Shaleen Patel

TITLE
Vice President of Corporate Development & Finance
TENURE
2.3 yrs

Laura Kinningham

TITLE
Vice President of Human Resources
AGE
45
TENURE
3.5 yrs

Doug Reid

TITLE
Vice President of Exploration
TENURE
4.4 yrs
Board of Directors Tenure

Average tenure and age of the Carrizo Oil & Gas board of directors in years:

14.9
Average Tenure
67.5
Average Age
  • The average tenure for the Carrizo Oil & Gas board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Steve Webster

TITLE
Chairman of the Board
COMPENSATION
$399K
AGE
68
TENURE
22.1 yrs

Chip Johnson

TITLE
President
COMPENSATION
$6M
AGE
62
TENURE
25.6 yrs

F. Parker

TITLE
Lead Independent Director
COMPENSATION
$325K
AGE
77
TENURE
7.2 yrs

Roger Ramsey

TITLE
Independent Director
COMPENSATION
$270K
AGE
80
TENURE
15.5 yrs

Thomas Carter

TITLE
Independent Director
COMPENSATION
$242K
AGE
67
TENURE
14.3 yrs

Frankie Wojtek

TITLE
Independent Director
COMPENSATION
$174K
AGE
63
TENURE
26.5 yrs

Robert Fulton

TITLE
Independent Director
COMPENSATION
$212K
AGE
68
TENURE
6.7 yrs

Frances Sevilla-Sacasa

TITLE
Independent Director
COMPENSATION
$217K
AGE
63
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
06. May 19 Buy Lion Point Capital Company 08. Mar 19 03. May 19 620,000 $11.46 $6,602,548
21. Mar 19 Sell Richard Smith Individual 19. Mar 19 19. Mar 19 -11,348 $12.11 $-137,374
21. Mar 19 Sell David Pitts Individual 19. Mar 19 19. Mar 19 -22,109 $12.11 $-267,643
21. Mar 19 Sell Gerald Morton Individual 19. Mar 19 19. Mar 19 -10,276 $12.11 $-124,397
21. Mar 19 Sell Sylvester Johnson Individual 19. Mar 19 19. Mar 19 -37,739 $12.11 $-456,853
21. Mar 19 Sell J. Fisher Individual 19. Mar 19 19. Mar 19 -30,755 $12.11 $-372,308
21. Mar 19 Sell Gregory Conaway Individual 19. Mar 19 19. Mar 19 -5,644 $12.11 $-68,324
X
Management checks
We assess Carrizo Oil & Gas's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Carrizo Oil & Gas has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) Earns Among The Best Returns In Its Industry

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Carrizo Oil & Gas: 0.14 = US$423m ÷ (US$3.6b - US$450m) (Based on the trailing twelve months to March 2019.) So, Carrizo Oil & Gas has an ROCE of 14%. … Carrizo Oil & Gas's Current Liabilities And Their Impact On Its ROCE Short term (or current) liabilities, are things like supplier invoices, overdrafts, or tax bills that need to be paid within 12 months. … Due to the way the ROCE equation works, having large bills due in the near term can make it look as though a company has less capital employed, and thus a higher ROCE than usual.

Simply Wall St -

Is Carrizo Oil & Gas, Inc.'s (NASDAQ:CRZO) Balance Sheet A Threat To Its Future?

Moreover, CRZO has generated US$640m in operating cash flow during the same period of time, resulting in an operating cash to total debt ratio of 36%, indicating that CRZO’s debt is appropriately covered by operating cash. … Looking at CRZO’s US$450m in current liabilities, it appears that the company may not be able to easily meet these obligations given the level of current assets of US$118m, with a current ratio of 0.26x. … Next Steps: Although CRZO’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet debt obligations which means its debt is being efficiently utilised.

Simply Wall St -

Should You Worry About Carrizo Oil & Gas, Inc.'s (NASDAQ:CRZO) CEO Pay Cheque?

In 1993 Chip Johnson was appointed CEO of Carrizo Oil & Gas, Inc. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Chip Johnson's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Those Who Purchased Carrizo Oil & Gas (NASDAQ:CRZO) Shares Five Years Ago Have A 75% Loss To Show For It

(NASDAQ:CRZO) shareholders should be happy to see the share price up 20% in the last quarter. … The important question is if the business itself justifies a higher share price in the long term. … A more detailed examination of the revenue and earnings may or may not explain why the share price languishes; there could be an opportunity.

Simply Wall St -

Is Carrizo Oil & Gas, Inc.'s (NASDAQ:CRZO) ROE Of 35% Impressive?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … That means that for every $1 worth of shareholders' equity, it generated $0.35 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) Be Your Next Stock Pick?

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Carrizo Oil & Gas, Inc. … (NASDAQ:CRZO) due to its excellent fundamentals in more than one area.

Simply Wall St -

Who Has Been Selling Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Carrizo Oil & Gas, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'.

Simply Wall St -

Is Carrizo Oil & Gas, Inc.'s (NASDAQ:CRZO) Balance Sheet A Threat To Its Future?

(NASDAQ:CRZO) with its market cap of US$1.2b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

What Can We Make Of Carrizo Oil & Gas, Inc.’s (NASDAQ:CRZO) High Return On Capital?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Is Carrizo Oil & Gas, Inc.'s (NASDAQ:CRZO) CEO Pay Fair?

In 1993 Chip Johnson was appointed CEO of Carrizo Oil & Gas, Inc. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Chip Johnson's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Company Info

Description

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.

Details
Name: Carrizo Oil & Gas, Inc.
CRZO
Exchange: NasdaqGS
Founded: 1993
$989,797,508
92,504,440
Website: http://www.carrizo.com
Address: Carrizo Oil & Gas, Inc.
500 Dallas Street,
Suite 2300,
Houston,
Texas, 77002,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS CRZO Common Stock Nasdaq Global Select US USD 06. Aug 1997
DB CO1 Common Stock Deutsche Boerse AG DE EUR 06. Aug 1997
LSE 0HTX Common Stock London Stock Exchange GB USD 06. Aug 1997
Number of employees
Current staff
Staff numbers
239
Carrizo Oil & Gas employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/15 23:34
End of day share price update: 2019/07/15 00:00
Last estimates confirmation: 2019/07/15
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.