Somewhat Positive News Coverage Somewhat Unlikely to Affect Abraxas Petroleum (AXAS) Share Price

Press coverage about Abraxas Petroleum (NASDAQ:AXAS) has been trending somewhat positive on Wednesday, according to Accern Sentiment. The research firm identifies positive and negative media coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Abraxas Petroleum earned a coverage optimism score of 0.03 on Accern’s scale. Accern also gave news coverage about the energy company an impact score of 48.2589195420719 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Here are some of the news articles that may have impacted Accern Sentiment Analysis’s rankings:

Several equities research analysts have weighed in on AXAS shares. Zacks Investment Research cut shares of Abraxas Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Robert W. Baird upgraded shares of Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 price objective for the company in a research report on Tuesday, December 19th. BidaskClub upgraded shares of Abraxas Petroleum from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Canaccord Genuity restated a “buy” rating and issued a $3.00 price objective on shares of Abraxas Petroleum in a research report on Wednesday, January 24th. Finally, Stifel Nicolaus raised their price objective on shares of Abraxas Petroleum from $3.10 to $3.30 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $2.91.

Shares of Abraxas Petroleum (NASDAQ:AXAS) opened at $2.36 on Wednesday. Abraxas Petroleum has a 1 year low of $1.45 and a 1 year high of $2.74. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market cap of $384.86, a P/E ratio of 26.23 and a beta of 1.44.

Abraxas Petroleum (NASDAQ:AXAS) last issued its quarterly earnings results on Tuesday, March 13th. The energy company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Abraxas Petroleum had a net margin of 18.83% and a return on equity of 17.00%. The company had revenue of $29.60 million during the quarter, compared to analysts’ expectations of $28.86 million. During the same quarter in the previous year, the company earned $0.01 EPS. Abraxas Petroleum’s revenue was up 34.5% on a year-over-year basis. research analysts expect that Abraxas Petroleum will post 0.12 earnings per share for the current 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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