Parametric Portfolio Associates LLC decreased its holdings in Abraxas Petroleum Corporation (NASDAQ:AXAS) by 48.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 115,677 shares of the energy company’s stock after selling 110,607 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.07% of Abraxas Petroleum worth $187,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of AXAS. Vanguard Group Inc. boosted its holdings in shares of Abraxas Petroleum by 15.3% during the 2nd quarter. Vanguard Group Inc. now owns 8,322,387 shares of the energy company’s stock valued at $13,483,000 after acquiring an additional 1,106,142 shares in the last quarter. Formula Growth Ltd. boosted its holdings in shares of Abraxas Petroleum by 19.1% during the 2nd quarter. Formula Growth Ltd. now owns 3,464,682 shares of the energy company’s stock valued at $5,613,000 after acquiring an additional 554,593 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Abraxas Petroleum by 8.2% during the 2nd quarter. Northern Trust Corp now owns 2,114,272 shares of the energy company’s stock valued at $3,425,000 after acquiring an additional 160,223 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Abraxas Petroleum by 15.6% during the 2nd quarter. Van ECK Associates Corp now owns 1,497,700 shares of the energy company’s stock valued at $2,426,000 after acquiring an additional 202,500 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Abraxas Petroleum by 36.9% during the 1st quarter. Geode Capital Management LLC now owns 1,250,746 shares of the energy company’s stock valued at $2,526,000 after acquiring an additional 336,989 shares in the last quarter. Institutional investors own 45.89% of the company’s stock.
Several equities research analysts recently weighed in on AXAS shares. Zacks Investment Research downgraded Abraxas Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Canaccord Genuity reissued a “buy” rating on shares of Abraxas Petroleum in a report on Friday, September 8th. Stifel Nicolaus reissued a “buy” rating and set a $2.20 price objective on shares of Abraxas Petroleum in a report on Sunday, September 3rd. BidaskClub downgraded Abraxas Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Seaport Global Securities raised Abraxas Petroleum from a “neutral” rating to a “buy” rating and raised their price objective for the company from $2.00 to $2.50 in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $2.31.
Abraxas Petroleum (NASDAQ:AXAS) last announced its earnings results on Tuesday, November 7th. The energy company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). The company had revenue of $24.70 million for the quarter, compared to analyst estimates of $25.38 million. Abraxas Petroleum had a return on equity of 17.00% and a net margin of 18.83%. The firm’s quarterly revenue was up 76.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) earnings per share. equities analysts anticipate that Abraxas Petroleum Corporation will post 0.15 earnings per share for the current fiscal year.
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About Abraxas Petroleum
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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