NEW YORK ( TheStreet) -- Carrizo Oil & Gas (Nasdaq: CRZO) is trading at unusually high volume Wednesday with 2.4 million shares changing hands. It is currently at four times its average daily volume and trading up $1.98 (+6.4%) at $32.77 as of four p.m. ET.

Carrizo Oil & Gas has a market cap of $1.2 billion and is part of the basic materials sector and energy industry. Shares are down 10.7% year to date as of the close of trading on Tuesday.

Carrizo Oil & Gas, Inc., together with its subsidiaries, engages in the exploration, development, production, and transportation of natural gas and oil primarily in the United States.

TheStreet Ratings rates Carrizo Oil & Gas as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and compelling growth in net income. However, as a counter to these strengths, we find that the company has not been very careful in the management of its balance sheet. You can view the full Carrizo Oil & Gas Ratings Report.

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