UPDATE: Rodman & Renshaw Lowers Price Target on Carrizo Oil and Gas to $37

According to Rodman & Renshaw, Carrizo Oil and Gas

price target is lowered to $37. Rodman & Renshaw said that CRZO reported Q4 operating EPS of $0.23, missing the $0.32 estimate and the $0.33 consensus. “Operating EPS excludes $1.4 million of unrealized derivative gains, $5.3 million of stock comp., $1.0 million of non-cash interest expense, and other smaller items. Higher-than- expected unit DD&A was the primary driver of the miss. CFPS of $0.95 was also shy our $0.97 estimate and the $1.08 consensus.” Carrizo Oil and Gas closed yesterday at $27.44.