Carrizo Oil & Gas (CRZO) Stock Retreating as Oil Prices Tumble

Carrizo Oil & Gas (CRZO) stock is trading lower this afternoon as oil prices decline.
By Natalie Walters ,

NEW YORK (TheStreet) -- Shares of Carrizo Oil & Gas (CRZO) - Get Report are down by 3.02% to $35.95 on Wednesday afternoon, as tumbling oil prices weigh on some energy and related stocks. 

The price of oil fell more than 4% on Wednesday, after bearish U.S. oil stock data amplified concerns of a global surplus of oil, Reuters reports

"A surprising build in gasoline in the peak of U.S. driving season and a very large build in heating oil will set the tone for lower prices as we go forward," Tariq Zahir, a trader in crude oil spreads at Tyche Capital Advisors, told Reuters. 

Crude oil (WTI) is lower by 4.04% to $44.91 per barrel and Brent crude is lower by 4.29% to $46.39 per barrel this afternoon.

The Houston-based energy company is engaged in the exploration, development and production of oil and gas from U.S. resource plays, primarily focused in the Eagle Ford Shale in South Texas.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate CARRIZO OIL & GAS INC as a Sell with a ratings score of D. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.

You can view the full analysis from the report here: CRZO

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