Abraxas Petroleum Corporation (NASDAQ:AXAS)‘s stock had its “buy” rating restated by investment analysts at Stifel Nicolaus in a research note issued to investors on Friday. They presently have a $2.40 target price on the energy company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 50.00% from the company’s previous close.
Several other brokerages also recently commented on AXAS. Canaccord Genuity set a $3.00 price objective on shares of Abraxas Petroleum Corporation and gave the company a “buy” rating in a research note on Thursday, April 6th. Zacks Investment Research raised shares of Abraxas Petroleum Corporation from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research note on Friday, March 17th. Finally, Seaport Global Securities downgraded shares of Abraxas Petroleum Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $3.25 to $2.00 in a research note on Wednesday, June 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Abraxas Petroleum Corporation presently has a consensus rating of “Buy” and a consensus price target of $2.61.
Shares of Abraxas Petroleum Corporation (NASDAQ AXAS) opened at 1.60 on Friday. Abraxas Petroleum Corporation has a one year low of $1.10 and a one year high of $2.99. The firm’s market capitalization is $259.77 million. The firm’s 50-day moving average price is $1.82 and its 200-day moving average price is $2.13.
Abraxas Petroleum Corporation (NASDAQ:AXAS) last issued its quarterly earnings data on Tuesday, May 9th. The energy company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $18.80 million during the quarter, compared to the consensus estimate of $19.87 million. Abraxas Petroleum Corporation had a negative net margin of 63.54% and a negative return on equity of 8.05%. The company’s quarterly revenue was up 95.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) earnings per share. On average, equities analysts forecast that Abraxas Petroleum Corporation will post $0.13 earnings per share for the current year.
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A number of large investors have recently made changes to their positions in AXAS. State Street Corp boosted its stake in shares of Abraxas Petroleum Corporation by 8.9% in the fourth quarter. State Street Corp now owns 1,770,869 shares of the energy company’s stock worth $4,549,000 after buying an additional 144,078 shares during the period. Allianz Asset Management AG acquired a new stake in shares of Abraxas Petroleum Corporation during the fourth quarter worth $378,000. Renaissance Technologies LLC acquired a new stake in shares of Abraxas Petroleum Corporation during the fourth quarter worth $1,021,000. Two Sigma Investments LP acquired a new stake in shares of Abraxas Petroleum Corporation during the fourth quarter worth $1,569,000. Finally, Tudor Investment Corp Et Al acquired a new stake in shares of Abraxas Petroleum Corporation during the fourth quarter worth $106,000. Institutional investors and hedge funds own 43.26% of the company’s stock.
About Abraxas Petroleum Corporation
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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