Abraxas Petroleum Co. (AXAS) Given Average Rating of “Buy” by Analysts

Abraxas Petroleum Co. (NASDAQ:AXAS) has earned a consensus rating of “Buy” from the seven analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $3.63.

A number of brokerages have commented on AXAS. Canaccord Genuity restated a “buy” rating and set a $4.00 price objective on shares of Abraxas Petroleum in a research report on Tuesday, March 13th. BidaskClub lowered Abraxas Petroleum from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Finally, Stifel Nicolaus raised their price objective on Abraxas Petroleum from $3.10 to $3.30 and gave the stock a “buy” rating in a research report on Tuesday, January 30th.

Shares of NASDAQ AXAS opened at $2.87 on Thursday. Abraxas Petroleum has a one year low of $1.45 and a one year high of $2.99. The stock has a market cap of $471.16, a price-to-earnings ratio of 23.92 and a beta of 1.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.50 and a quick ratio of 0.50.

Abraxas Petroleum (NASDAQ:AXAS) last announced its quarterly earnings data on Tuesday, March 13th. The energy company reported $0.04 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.04. Abraxas Petroleum had a return on equity of 19.32% and a net margin of 18.56%. The firm had revenue of $29.60 million during the quarter, compared to analyst estimates of $28.86 million. During the same period last year, the company posted $0.01 EPS. The business’s quarterly revenue was up 34.5% compared to the same quarter last year. equities analysts expect that Abraxas Petroleum will post 0.41 EPS for the current year.

Several institutional investors have recently made changes to their positions in AXAS. Wells Fargo & Company MN lifted its holdings in shares of Abraxas Petroleum by 14.8% during the 3rd quarter. Wells Fargo & Company MN now owns 370,662 shares of the energy company’s stock valued at $697,000 after buying an additional 47,684 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Abraxas Petroleum by 18.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 672,419 shares of the energy company’s stock valued at $1,265,000 after buying an additional 106,600 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Abraxas Petroleum by 311.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 86,128 shares of the energy company’s stock valued at $162,000 after buying an additional 65,188 shares during the last quarter. Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Abraxas Petroleum by 160.1% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 173,500 shares of the energy company’s stock valued at $326,000 after buying an additional 106,800 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Abraxas Petroleum by 106.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 81,798 shares of the energy company’s stock valued at $154,000 after buying an additional 42,188 shares during the last quarter. Institutional investors and hedge funds own 52.15% of the company’s stock.

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Abraxas Petroleum Company Profile

Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of oil and gas properties in the United States. The company operates oil and gas assets in the Permian/Delaware Basin, the Rocky Mountain, and South Texas regions.

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