Is it smart to be bullish on Carrizo Oil & Gas, Inc. (NASDAQ:CRZO)?
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Equally as useful, positive insider trading activity is a second way to look at the stock market universe. Obviously, there are many stimuli for a corporate insider to get rid of shares of his or her company, but only one, very clear reason why they would buy. Various empirical studies have demonstrated the impressive potential of this method if investors know what to do (learn more here).
Thus, it’s important to study the recent info surrounding Carrizo Oil & Gas, Inc. (NASDAQ:CRZO).
How are hedge funds trading Carrizo Oil & Gas, Inc. (NASDAQ:CRZO)?
In preparation for the third quarter, a total of 11 of the hedge funds we track were long in this stock, a change of 38% from the first quarter. With the smart money’s sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were upping their holdings substantially.
When using filings from the hedgies we track, Daruma Asset Management, managed by Mariko Gordon, holds the largest position in Carrizo Oil & Gas, Inc. (NASDAQ:CRZO). Daruma Asset Management has a $50.6 million position in the stock, comprising 2.5% of its 13F portfolio. The second largest stake is held by Israel Englander of Millennium Management, with a $27.2 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Some other hedge funds that are bullish include Ken Griffin’s Citadel Investment Group, Ric Dillon’s Diamond Hill Capital and Matthew Hulsizer’s PEAK6 Capital Management.
Now, certain bigger names were leading the bulls’ herd. Daruma Asset Management, managed by Mariko Gordon, established the largest position in Carrizo Oil & Gas, Inc. (NASDAQ:CRZO). Daruma Asset Management had 50.6 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also made a $27.2 million investment in the stock during the quarter. The other funds with brand new CRZO positions are Ken Griffin’s Citadel Investment Group, Ric Dillon’s Diamond Hill Capital, and Matthew Hulsizer’s PEAK6 Capital Management.
How are insiders trading Carrizo Oil & Gas, Inc. (NASDAQ:CRZO)?
Insider buying is at its handiest when the company in question has experienced transactions within the past half-year. Over the latest half-year time frame, Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to Carrizo Oil & Gas, Inc. (NASDAQ:CRZO). These stocks are LinnCo LLC (NASDAQ:LNCO), QR Energy LP (NYSE:QRE), Diamondback Energy Inc (NASDAQ:FANG), Stone Energy Corporation (NYSE:SGY), and EPL Oil & Gas Inc (NYSE:EPL). This group of stocks are in the independent oil & gas industry and their market caps are closest to CRZO’s market cap.
