BidaskClub upgraded shares of Abraxas Petroleum (NASDAQ:AXAS) from a hold rating to a buy rating in a research note published on Friday morning.
AXAS has been the subject of a number of other research reports. Robert W. Baird raised 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. Stifel Nicolaus reissued a buy rating and issued a $3.70 price objective (up previously from $3.20) on shares of Abraxas Petroleum in a research report on Wednesday, March 14th. Finally, Canaccord Genuity reissued a buy rating and issued a $3.00 price objective on shares of Abraxas Petroleum in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $3.09.
NASDAQ:AXAS opened at $2.71 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $442.96, a PE ratio of 22.58 and a beta of 1.34. Abraxas Petroleum has a 1-year low of $1.45 and a 1-year high of $2.74.
Abraxas Petroleum (NASDAQ:AXAS) last posted its quarterly earnings data on Tuesday, March 13th. The energy company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $29.60 million during the quarter, compared to analyst estimates of $28.86 million. Abraxas Petroleum had a net margin of 18.56% and a return on equity of 19.32%. The company’s revenue was up 34.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 earnings per share. research analysts anticipate that Abraxas Petroleum will post 0.41 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Abraxas Petroleum by 1.0% in the fourth quarter. BlackRock Inc. now owns 10,925,084 shares of the energy company’s stock valued at $26,876,000 after purchasing an additional 105,500 shares during the period. Mangrove Partners purchased a new stake in Abraxas Petroleum in the fourth quarter valued at approximately $8,213,000. Heartland Advisors Inc. purchased a new stake in Abraxas Petroleum in the fourth quarter valued at approximately $4,094,000. Foundry Partners LLC purchased a new stake in Abraxas Petroleum in the fourth quarter valued at approximately $3,676,000. Finally, Cadence Capital Management LLC grew its holdings in Abraxas Petroleum by 18.5% in the fourth quarter. Cadence Capital Management LLC now owns 1,101,230 shares of the energy company’s stock valued at $2,709,000 after purchasing an additional 171,698 shares during the period. Hedge funds and other institutional investors own 51.85% 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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