Abraxas Petroleum Co. (NASDAQ:AXAS) shares reached a new 52-week high and low on Wednesday . The company traded as low as $2.95 and last traded at $2.92, with a volume of 2382670 shares trading hands. The stock had previously closed at $2.79.
A number of research analysts have weighed in on AXAS shares. Robert W. Baird upgraded shares of Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 target price on the stock in a research note on Tuesday, December 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $3.70 target price (up from $3.20) on shares of Abraxas Petroleum in a research note on Wednesday, March 14th. BidaskClub upgraded shares of Abraxas Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $4.00 target price on shares of Abraxas Petroleum in a research note on Tuesday, March 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Abraxas Petroleum has a consensus rating of “Buy” and a consensus price target of $3.09.
The company has a market cap of $449.59, a P/E ratio of 24.29 and a beta of 1.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.50 and a current ratio of 0.50.
Abraxas Petroleum (NASDAQ:AXAS) last announced its quarterly earnings results on Tuesday, March 13th. The energy company reported $0.04 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.04. The company had revenue of $29.60 million for the quarter, compared to analysts’ expectations of $28.86 million. Abraxas Petroleum had a net margin of 18.56% and a return on equity of 19.32%. Abraxas Petroleum’s revenue was up 34.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 EPS. analysts forecast that Abraxas Petroleum Co. will post 0.41 EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY bought a new stake in Abraxas Petroleum during the 4th quarter worth approximately $110,000. Citadel Advisors LLC increased its holdings in Abraxas Petroleum by 159.8% during the 4th quarter. Citadel Advisors LLC now owns 51,969 shares of the energy company’s stock worth $128,000 after acquiring an additional 31,969 shares during the period. Mycio Wealth Partners LLC bought a new stake in Abraxas Petroleum during the 4th quarter worth approximately $135,000. Chicago Equity Partners LLC bought a new stake in Abraxas Petroleum during the 4th quarter worth approximately $140,000. Finally, Eqis Capital Management Inc. bought a new stake in Abraxas Petroleum during the 4th quarter worth approximately $197,000. 51.85% of the stock is currently owned by institutional investors and hedge funds.
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Abraxas Petroleum Company Profile
Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of oil and gas properties in the United States. The company operates oil and gas assets in the Permian/Delaware Basin, the Rocky Mountain, and South Texas regions.
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