Brokerages expect that Abraxas Petroleum Co. (NASDAQ:AXAS) will post $0.12 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Abraxas Petroleum’s earnings, with the lowest EPS estimate coming in at $0.09 and the highest estimate coming in at $0.14. Abraxas Petroleum reported earnings of $0.03 per share during the same quarter last year, which would indicate a positive year over year growth rate of 300%. The firm is scheduled to report its next earnings results after the market closes on Tuesday, May 8th.
According to Zacks, analysts expect that Abraxas Petroleum will report full-year earnings of $0.41 per share for the current financial year, with EPS estimates ranging from $0.34 to $0.57. For the next fiscal year, analysts forecast that the business will post earnings of $0.46 per share, with EPS estimates ranging from $0.34 to $0.60. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover Abraxas Petroleum.
Abraxas Petroleum (NASDAQ:AXAS) last announced its quarterly earnings data on Tuesday, March 13th. The energy company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Abraxas Petroleum had a return on equity of 19.32% and a net margin of 18.56%. The company had revenue of $29.60 million for the quarter, compared to analysts’ expectations of $28.86 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Abraxas Petroleum’s revenue was up 34.5% compared to the same quarter last year.
Several analysts have issued reports on AXAS shares. Stifel Nicolaus increased their target price on Abraxas Petroleum from $3.10 to $3.30 and gave the company a “buy” rating in a research report on Tuesday, January 30th. BidaskClub cut Abraxas Petroleum from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 30th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $3.00 target price on shares of Abraxas Petroleum in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $3.09.
NASDAQ AXAS traded down $0.05 during midday trading on Thursday, hitting $2.84. 1,653,790 shares of the company traded hands, compared to its average volume of 1,343,585. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $471.16, a PE ratio of 23.67 and a beta of 1.35. Abraxas Petroleum has a 52 week low of $1.45 and a 52 week high of $2.99.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co. NY bought a new stake in Abraxas Petroleum during the 4th quarter valued at $110,000. Citadel Advisors LLC boosted its position in shares of Abraxas Petroleum by 159.8% in the 4th quarter. Citadel Advisors LLC now owns 51,969 shares of the energy company’s stock worth $128,000 after purchasing an additional 31,969 shares in the last quarter. Mycio Wealth Partners LLC acquired a new stake in shares of Abraxas Petroleum in the 4th quarter worth $135,000. Chicago Equity Partners LLC acquired a new stake in shares of Abraxas Petroleum in the 4th quarter worth $140,000. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Abraxas Petroleum in the 4th quarter worth $197,000. 51.85% of the stock is currently owned by institutional investors and hedge funds.
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About Abraxas Petroleum
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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