Stephens started coverage on shares of Abraxas Petroleum (NASDAQ:AXAS) in a research report report published on Thursday, Marketbeat reports. The brokerage issued a weight rating and a $3.00 price objective on the energy company’s stock.
A number of other analysts have also recently commented on the stock. Zacks Investment Research raised shares of Abraxas Petroleum from a sell rating to a hold rating in a report on Tuesday, November 27th. BidaskClub cut shares of Abraxas Petroleum from a sell rating to a strong sell rating in a report on Tuesday, November 6th. ValuEngine cut shares of Abraxas Petroleum from a sell rating to a strong sell rating in a report on Thursday, November 1st. Canaccord Genuity reiterated a buy rating and issued a $3.50 price target on shares of Abraxas Petroleum in a research report on Tuesday, August 28th. Finally, TheStreet lowered shares of Abraxas Petroleum from a c rating to a d+ rating in a research report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Abraxas Petroleum has a consensus rating of Hold and an average target price of $3.63.
Shares of AXAS stock opened at $1.55 on Thursday. Abraxas Petroleum has a 12 month low of $1.53 and a 12 month high of $3.27. The company has a market cap of $258.24 million, a price-to-earnings ratio of 12.92 and a beta of 1.10. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.49 and a quick ratio of 0.49.
Abraxas Petroleum (NASDAQ:AXAS) last announced its earnings results on Wednesday, November 7th. The energy company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. Abraxas Petroleum had a negative net margin of 1.48% and a positive return on equity of 30.57%. The business had revenue of $41.63 million during the quarter, compared to analysts’ expectations of $33.37 million. As a group, research analysts predict that Abraxas Petroleum will post 0.25 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of AXAS. Dimensional Fund Advisors LP boosted its position in shares of Abraxas Petroleum by 56.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,231,327 shares of the energy company’s stock worth $12,229,000 after purchasing an additional 1,526,579 shares during the period. BlackRock Inc. boosted its position in shares of Abraxas Petroleum by 7.9% in the second quarter. BlackRock Inc. now owns 11,633,452 shares of the energy company’s stock worth $33,622,000 after purchasing an additional 847,643 shares during the period. LSV Asset Management boosted its position in shares of Abraxas Petroleum by 902.9% in the third quarter. LSV Asset Management now owns 833,400 shares of the energy company’s stock worth $1,941,000 after purchasing an additional 750,300 shares during the period. Intrinsic Edge Capital Management LLC bought a new position in shares of Abraxas Petroleum in the second quarter worth approximately $1,445,000. Finally, Walthausen & Co. LLC bought a new position in shares of Abraxas Petroleum in the third quarter worth approximately $1,082,000. Institutional investors and hedge funds own 58.57% 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.
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