Analysts expect that Abraxas Petroleum Corporation (NASDAQ:AXAS) will post $0.04 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Abraxas Petroleum Corporation’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at $0.03. Abraxas Petroleum Corporation reported earnings per share of ($0.02) during the same quarter last year, which would suggest a positive year-over-year growth rate of 300%. The firm is scheduled to report its next quarterly earnings results on Tuesday, November 14th.
On average, analysts expect that Abraxas Petroleum Corporation will report full-year earnings of $0.15 per share for the current fiscal year, with EPS estimates ranging from $0.11 to $0.20. For the next financial year, analysts expect that the company will post earnings of $0.25 per share, with EPS estimates ranging from $0.11 to $0.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Abraxas Petroleum Corporation.
Abraxas Petroleum Corporation (NASDAQ:AXAS) last announced its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Abraxas Petroleum Corporation had a return on equity of 7.68% and a net margin of 18.14%. The business had revenue of $13.15 million for the quarter, compared to the consensus estimate of $16.70 million.
Several equities analysts have recently weighed in on the company. Seaport Global Securities upgraded Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2.00 to $2.50 in a research report on Friday, August 11th. TheStreet raised Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a research note on Tuesday, August 8th. Zacks Investment Research raised Abraxas Petroleum Corporation from a “strong sell” rating to a “hold” rating in a research note on Friday, August 18th. BidaskClub lowered Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Canaccord Genuity assumed coverage on Abraxas Petroleum Corporation in a research note on Monday, July 24th. They set a “buy” rating and a $2.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $2.58.
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Shares of Abraxas Petroleum Corporation (NASDAQ AXAS) traded up 4.24% during mid-day trading on Monday, hitting $1.72. The company had a trading volume of 1,090,570 shares. Abraxas Petroleum Corporation has a one year low of $1.41 and a one year high of $2.99. The company has a market capitalization of $279.25 million, a PE ratio of 20.48 and a beta of 1.48. The company’s 50-day moving average is $1.69 and its 200 day moving average is $1.81.
A number of large investors have recently bought and sold shares of AXAS. Formula Growth Ltd. bought a new stake in Abraxas Petroleum Corporation during the first quarter valued at $5,878,000. UBS Oconnor LLC boosted its stake in Abraxas Petroleum Corporation by 542.8% during the first quarter. UBS Oconnor LLC now owns 3,091,295 shares of the energy company’s stock valued at $6,244,000 after buying an additional 2,610,368 shares during the period. Vanguard Group Inc. boosted its stake in Abraxas Petroleum Corporation by 42.1% during the first quarter. Vanguard Group Inc. now owns 7,216,245 shares of the energy company’s stock valued at $14,577,000 after buying an additional 2,136,606 shares during the period. Wellington Management Group LLP bought a new stake in Abraxas Petroleum Corporation during the first quarter valued at $3,735,000. Finally, ClariVest Asset Management LLC bought a new stake in Abraxas Petroleum Corporation during the first quarter valued at $3,610,000. 44.49% of the stock is owned by institutional investors.
Abraxas Petroleum Corporation Company Profile
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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