Abraxas Petroleum (AXAS) Downgraded to “Sell” at ValuEngine

ValuEngine cut shares of Abraxas Petroleum (NASDAQ:AXAS) from a hold rating to a sell rating in a research report report published on Monday.

A number of other brokerages have also issued reports on AXAS. Stifel Nicolaus set a $5.00 target price on shares of Abraxas Petroleum and gave the stock a buy rating in a research report on Tuesday, April 24th. Canaccord Genuity reiterated a buy rating and set a $4.00 target price on shares of Abraxas Petroleum in a research report on Tuesday, March 13th. Finally, BidaskClub upgraded shares of Abraxas Petroleum from a hold rating to a buy rating in a research report on Friday, April 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $3.29.

Shares of Abraxas Petroleum opened at $2.83 on Monday, Marketbeat.com reports. Abraxas Petroleum has a 1 year low of $1.51 and a 1 year high of $3.27. The company has a market cap of $481.39 million, a PE ratio of 16.06 and a beta of 1.24. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.91.

Abraxas Petroleum (NASDAQ:AXAS) last announced its earnings results on Tuesday, May 8th. The energy company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.01. Abraxas Petroleum had a net margin of 12.11% and a return on equity of 27.50%. The company had revenue of $40.63 million for the quarter, compared to analyst estimates of $39.00 million. research analysts predict that Abraxas Petroleum will post 0.36 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mangrove Partners acquired a new position in Abraxas Petroleum in the fourth quarter valued at approximately $8,213,000. Two Sigma Advisers LP lifted its holdings in Abraxas Petroleum by 71.0% in the fourth quarter. Two Sigma Advisers LP now owns 919,640 shares of the energy company’s stock valued at $2,262,000 after buying an additional 381,838 shares during the period. Thrivent Financial For Lutherans lifted its holdings in Abraxas Petroleum by 71,517.3% in the fourth quarter. Thrivent Financial For Lutherans now owns 501,321 shares of the energy company’s stock valued at $1,233,000 after buying an additional 500,621 shares during the period. Two Sigma Investments LP lifted its holdings in Abraxas Petroleum by 801.6% in the fourth quarter. Two Sigma Investments LP now owns 816,119 shares of the energy company’s stock valued at $2,008,000 after buying an additional 725,604 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Abraxas Petroleum by 20.5% in the fourth quarter. Wells Fargo & Company MN now owns 446,488 shares of the energy company’s stock valued at $1,099,000 after buying an additional 75,826 shares during the period. Institutional investors and hedge funds own 52.83% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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