Foundry Partners LLC purchased a new position in shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,494,450 shares of the energy company’s stock, valued at approximately $3,676,000. Foundry Partners LLC owned 0.90% of Abraxas Petroleum at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wasatch Advisors Inc. raised its holdings in Abraxas Petroleum by 67.0% during the fourth quarter. Wasatch Advisors Inc. now owns 1,050,293 shares of the energy company’s stock valued at $2,584,000 after buying an additional 421,313 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Abraxas Petroleum in the third quarter worth about $423,000. Cubist Systematic Strategies LLC increased its stake in shares of Abraxas Petroleum by 106.5% in the third quarter. Cubist Systematic Strategies LLC now owns 81,798 shares of the energy company’s stock worth $154,000 after purchasing an additional 42,188 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Abraxas Petroleum by 160.1% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 173,500 shares of the energy company’s stock worth $326,000 after purchasing an additional 106,800 shares during the period. Finally, OxFORD Asset Management LLP increased its stake in shares of Abraxas Petroleum by 65.8% in the third quarter. OxFORD Asset Management LLP now owns 410,831 shares of the energy company’s stock worth $809,000 after purchasing an additional 163,022 shares during the period. Hedge funds and other institutional investors own 47.54% of the company’s stock.
A number of equities research analysts recently weighed in on the company. BidaskClub downgraded Abraxas Petroleum from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 30th. Zacks Investment Research downgraded Abraxas Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Stifel Nicolaus lifted their target price on Abraxas Petroleum from $3.10 to $3.30 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Canaccord Genuity reissued a “buy” rating and set a $3.00 target price on shares of Abraxas Petroleum in a research report on Wednesday, January 24th. Finally, Robert W. Baird raised Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 price objective on the stock in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $2.81.
Shares of Abraxas Petroleum Corp. (NASDAQ AXAS) opened at $2.17 on Tuesday. The firm has a market capitalization of $361.64, a P/E ratio of 24.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48. Abraxas Petroleum Corp. has a 1-year low of $1.45 and a 1-year high of $2.74.
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Abraxas Petroleum Company Profile
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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