Abraxas Petroleum (AXAS) Upgraded to Buy by BidaskClub

Abraxas Petroleum (NASDAQ:AXAS) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, December 21st.

A number of other brokerages have also recently commented on AXAS. Zacks Investment Research cut shares of Abraxas Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Canaccord Genuity reaffirmed a “buy” rating on shares of Abraxas Petroleum in a research note on Friday, September 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $2.20 price target on shares of Abraxas Petroleum in a research note on Sunday, September 3rd. Finally, Robert W. Baird raised shares of Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 price target for the company in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Abraxas Petroleum has an average rating of “Buy” and a consensus target price of $2.45.

Abraxas Petroleum (NASDAQ:AXAS) opened at $2.66 on Thursday. The firm has a market cap of $441.27, a price-to-earnings ratio of 29.56 and a beta of 1.42. Abraxas Petroleum has a 52 week low of $1.45 and a 52 week high of $2.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48.

Abraxas Petroleum (NASDAQ:AXAS) last issued its quarterly earnings data on Tuesday, November 7th. The energy company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Abraxas Petroleum had a return on equity of 17.00% and a net margin of 18.83%. The business had revenue of $24.70 million during the quarter, compared to analysts’ expectations of $25.38 million. During the same period in the previous year, the business earned ($0.02) earnings per share. The business’s quarterly revenue was up 76.4% on a year-over-year basis. equities analysts predict that Abraxas Petroleum will post 0.14 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in AXAS. Mutual of America Capital Management LLC raised its holdings in shares of Abraxas Petroleum by 0.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 785,438 shares of the energy company’s stock valued at $1,272,000 after purchasing an additional 6,650 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Abraxas Petroleum by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 162,768 shares of the energy company’s stock valued at $264,000 after purchasing an additional 9,300 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Abraxas Petroleum by 15.8% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 105,097 shares of the energy company’s stock valued at $212,000 after purchasing an additional 14,370 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Abraxas Petroleum by 24.5% in the 2nd quarter. Voya Investment Management LLC now owns 73,546 shares of the energy company’s stock valued at $119,000 after purchasing an additional 14,483 shares in the last quarter. Finally, Teachers Advisors LLC raised its holdings in shares of Abraxas Petroleum by 6.2% in the 2nd quarter. Teachers Advisors LLC now owns 270,123 shares of the energy company’s stock valued at $438,000 after purchasing an additional 15,828 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

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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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