Abraxas Petroleum Corporation (AXAS) Earns Daily News Impact Rating of 0.11

Headlines about Abraxas Petroleum Corporation (NASDAQ:AXAS) have trended somewhat positive recently, Accern reports. Accern ranks the sentiment of news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Abraxas Petroleum Corporation earned a coverage optimism score of 0.11 on Accern’s scale. Accern also assigned news stories about the energy company an impact score of 46.2376873026656 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

These are some of the news stories that may have impacted Accern’s scoring:

Abraxas Petroleum Corporation (AXAS) traded down 3.11% during mid-day trading on Thursday, hitting $1.87. 539,602 shares of the company traded hands. The firm has a market capitalization of $303.61 million, a P/E ratio of 22.26 and a beta of 1.46. Abraxas Petroleum Corporation has a one year low of $1.45 and a one year high of $2.99. The firm has a 50 day moving average of $1.80 and a 200 day moving average of $1.80.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last issued its quarterly earnings results on Tuesday, August 8th. The energy company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The company had revenue of $13.15 million during the quarter, compared to the consensus estimate of $16.70 million. Abraxas Petroleum Corporation had a return on equity of 7.68% and a net margin of 18.14%. Equities research analysts expect that Abraxas Petroleum Corporation will post $0.14 earnings per share for the current fiscal year.

Several research analysts have recently commented on AXAS shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $2.40 target price on shares of Abraxas Petroleum Corporation in a report on Friday, July 14th. Canaccord Genuity started coverage on shares of Abraxas Petroleum Corporation in a report on Monday, July 24th. They set a “buy” rating and a $2.50 target price on the stock. Zacks Investment Research cut shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. BidaskClub cut shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Seaport Global Securities raised shares of Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2.00 to $2.50 in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $2.54.

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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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