Midday Update: Carrizo Oil & Gas Inc. (CRZO) Charges Ahead 3.94% on August 18

Carrizo Oil & Gas Inc. (CRZO) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on August 18. At the lunch break, shares of CRZO have gained 3.94% to $37.98 after closing the day prior at $36.54. In the first two and a half hours of trading, the stock has gone as high as $38.38 and as low as $36.65. Today's rise has come with about 914,403 shares changing hands, compared to an average 30-day volume of 1.52 million for Carrizo Oil & Gas Inc.. The price is currently below the 30-day volume weighted average price of $37.45 for CRZO.

The share appreciation gives the company a market capitalization of $2.15 billion based upon 58.97 million shares outstanding. It also means that CRZO has a price-to-book ratio of 13.96:1.

In the past 52 weeks, shares of CRZO have traded as low as $16.1022 and as high as $43.97. Technical traders will take note that at $37.98, shares of CRZO are trading above their 200-day MA at $32.35 and above their 50-day MA at $36.07. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is CRZO?

Carrizo Oil & Gas Inc along with its subsidiaries is engaged in the exploration, development and production oil and gas from resource plays located in the United States. The company’s 215 employees are led by CEO S. P. Johnson from the corporate headquarters at 500 Dallas Street in Houston, TX.

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