Bailard Inc. purchased a new position in shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 172,500 shares of the energy company’s stock, valued at approximately $424,000.
Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Abraxas Petroleum by 15.3% during the 2nd quarter. Vanguard Group Inc. now owns 8,322,387 shares of the energy company’s stock worth $13,483,000 after buying an additional 1,106,142 shares in the last quarter. Formula Growth Ltd. raised its holdings 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 buying an additional 250,000 shares in the last quarter. State Street Corp raised its holdings in shares of Abraxas Petroleum by 12.1% during the 2nd quarter. State Street Corp now owns 2,550,295 shares of the energy company’s stock worth $4,133,000 after buying an additional 274,421 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Abraxas Petroleum by 8.2% during the 2nd quarter. Northern Trust Corp now owns 2,114,272 shares of the energy company’s stock worth $3,425,000 after buying an additional 160,223 shares in the last quarter. Finally, Heartland Advisors Inc. acquired a new position in shares of Abraxas Petroleum during the 4th quarter worth $4,094,000. 47.54% of the stock is owned by institutional investors.
AXAS has been the topic of a number of research reports. Stifel Nicolaus boosted their price objective on Abraxas Petroleum from $3.10 to $3.30 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. BidaskClub lowered Abraxas Petroleum from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 30th. Canaccord Genuity restated a “buy” rating and set a $3.00 price objective on shares of Abraxas Petroleum in a research report on Wednesday, January 24th. Zacks Investment Research lowered Abraxas Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, Robert W. Baird upgraded Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 price objective on the stock in a research 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 company’s stock. The stock presently has an average rating of “Buy” and an average target price of $2.81.
Shares of Abraxas Petroleum Corp. (AXAS) opened at $2.14 on Friday. The firm has a market capitalization of $351.72, a price-to-earnings ratio of 23.78 and a beta of 1.39. Abraxas Petroleum Corp. has a 52-week low of $1.45 and a 52-week high of $2.74. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61.
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Abraxas Petroleum 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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