Abraxas Petroleum (NASDAQ:AXAS) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday, January 5th.
A number of other equities research analysts have also recently issued reports on AXAS. Canaccord Genuity restated a “buy” rating on shares of Abraxas Petroleum in a report on Friday, September 8th. Stifel Nicolaus set a $2.00 target price on shares of Abraxas Petroleum and gave the company a “buy” rating in a research note on Thursday, October 5th. Zacks Investment Research raised shares of Abraxas Petroleum from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research report on Wednesday, October 11th. Finally, Robert W. Baird raised shares of Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 price target for the company in a research report on Tuesday, December 19th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $2.45.
Abraxas Petroleum (NASDAQ AXAS) traded up $0.04 on Friday, reaching $2.66. The company’s stock had a trading volume of 1,598,900 shares, compared to its average volume of 1,374,322. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48. Abraxas Petroleum has a 12-month low of $1.45 and a 12-month high of $2.88. The firm has a market capitalization of $441.27, a P/E ratio of 29.56 and a beta of 1.42.
Abraxas Petroleum (NASDAQ:AXAS) last posted its quarterly earnings results on Tuesday, November 7th. The energy company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). The company had revenue of $24.70 million during the quarter, compared to analyst estimates of $25.38 million. Abraxas Petroleum had a return on equity of 17.00% and a net margin of 18.83%. The company’s revenue was up 76.4% compared to the same quarter last year. During the same period last year, the company posted ($0.02) earnings per share. research analysts predict that Abraxas Petroleum will post 0.14 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in shares of Abraxas Petroleum during the third quarter worth $423,000. Cubist Systematic Strategies LLC increased its stake in Abraxas Petroleum by 106.5% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 81,798 shares of the energy company’s stock valued at $154,000 after buying an additional 42,188 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in Abraxas Petroleum by 160.1% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 173,500 shares of the energy company’s stock valued at $326,000 after buying an additional 106,800 shares during the last quarter. OxFORD Asset Management LLP increased its stake in Abraxas Petroleum by 65.8% in the 3rd quarter. OxFORD Asset Management LLP now owns 410,831 shares of the energy company’s stock valued at $809,000 after buying an additional 163,022 shares during the last quarter. Finally, Formula Growth Ltd. increased its stake in shares of Abraxas Petroleum by 7.2% during the 3rd quarter. Formula Growth Ltd. now owns 3,714,682 shares of the energy company’s stock worth $6,984,000 after purchasing an additional 250,000 shares during the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.
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About Abraxas Petroleum
Abraxas Petroleum Corporation is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas. As of December 31, 2016, the Company’s estimated net proved reserves were 44.7 million barrels of oil equivalent (MMBoe), of which 33.6% were classified as proved developed, 74% were oil and natural gas liquids (NGL), and 95% of which (on a PV-10 basis) were operated by the Company.
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