Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $2.95.
Several equities analysts recently weighed in on AXAS shares. Zacks Investment Research lowered shares of Abraxas Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Robert W. Baird raised shares of 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. BidaskClub raised shares of Abraxas Petroleum from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Canaccord Genuity reaffirmed a “buy” rating and set a $3.00 price objective on shares of Abraxas Petroleum in a research report on Wednesday, January 24th. Finally, Stifel Nicolaus raised their price objective on shares of Abraxas Petroleum from $3.10 to $3.30 and gave the company a “buy” rating in a research report on Tuesday, January 30th.
Shares of Abraxas Petroleum (NASDAQ AXAS) traded down $0.03 on Friday, reaching $2.17. 890,800 shares of the company traded hands, compared to its average volume of 1,261,531. The company has a market capitalization of $352.52, a price-to-earnings ratio of 23.56 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 has a 52-week low of $1.45 and a 52-week high of $2.74.
A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in Abraxas Petroleum by 6.1% during the second quarter. Rhumbline Advisers now owns 162,768 shares of the energy company’s stock valued at $264,000 after purchasing an additional 9,300 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Abraxas Petroleum by 24.5% in the second quarter. Voya Investment Management LLC now owns 73,546 shares of the energy company’s stock worth $119,000 after acquiring an additional 14,483 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Abraxas Petroleum by 6.2% in the second quarter. Teachers Advisors LLC now owns 270,123 shares of the energy company’s stock worth $438,000 after acquiring an additional 15,828 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Abraxas Petroleum by 5.6% in the second quarter. Goldman Sachs Group Inc. now owns 382,708 shares of the energy company’s stock worth $620,000 after acquiring an additional 20,261 shares during the last quarter. Finally, Sigma Planning Corp grew its stake in shares of Abraxas Petroleum by 4.2% in the third quarter. Sigma Planning Corp now owns 577,700 shares of the energy company’s stock worth $1,086,000 after acquiring an additional 23,500 shares during the last quarter. Institutional investors own 47.54% of the company’s stock.
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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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