Carrizo Oil & Gas Inc. is a Houston-based energy company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CRZO’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Carrizo Oil & Gas could be a solid choice for investors.

Current Quarter Estimates for CRZO

In the past 30 days, 7 estimates have gone higher for Carrizo Oil & Gas while 2 have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 7 cents a share 30 days ago, to 10 cents today, a move of 42.9%.

Current Year Estimates for CRZO                

Meanwhile, Carrizo Oil & Gas’ current year figures are also looking quite promising, with 13 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 57 cents per share 30 days ago to 66 cents per share today, an increase of 15.8%.

Bottom Line

The stock has also started to move higher lately, adding 6.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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