According to Zacks, “Abraxas Petroleum Corporation is an independent energy company engaged primarily in the acquisition, exploration, exploitation and production of crude oil and natural gas. They seek to complement their acquisition and development activities by selectively participating in exploration projects with experienced industry partners. “
Several other research analysts have also recently weighed in on the stock. Seaport Global Securities reiterated a buy rating on shares of Abraxas Petroleum in a research note on Friday, June 21st. ValuEngine cut shares of Abraxas Petroleum from a sell rating to a strong sell rating in a research note on Monday, April 29th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Abraxas Petroleum presently has a consensus rating of Hold and a consensus price target of $3.25.
Shares of Abraxas Petroleum stock opened at $0.47 on Monday. The company’s fifty day simple moving average is $0.90 and its 200-day simple moving average is $1.14. The stock has a market capitalization of $101.68 million, a PE ratio of 5.49 and a beta of 1.67. Abraxas Petroleum has a 1-year low of $0.43 and a 1-year high of $2.57. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.47 and a quick ratio of 0.42.
Abraxas Petroleum (NASDAQ:AXAS) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.02). The business had revenue of $34.82 million for the quarter, compared to analysts’ expectations of $33.00 million. Abraxas Petroleum had a return on equity of 13.62% and a net margin of 29.82%. As a group, research analysts anticipate that Abraxas Petroleum will post 0.16 EPS for the current year.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Abraxas Petroleum by 1.0% in the 2nd quarter. BlackRock Inc. now owns 11,604,693 shares of the energy company’s stock valued at $11,953,000 after buying an additional 112,823 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Abraxas Petroleum by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,554,853 shares of the energy company’s stock worth $6,055,000 after purchasing an additional 253,765 shares during the period. Formula Growth Ltd. lifted its position in shares of Abraxas Petroleum by 6.7% in the 1st quarter. Formula Growth Ltd. now owns 3,993,528 shares of the energy company’s stock worth $4,992,000 after purchasing an additional 250,000 shares during the period. Heartland Advisors Inc. lifted its position in shares of Abraxas Petroleum by 47.8% in the 2nd quarter. Heartland Advisors Inc. now owns 3,555,200 shares of the energy company’s stock worth $3,662,000 after purchasing an additional 1,150,200 shares during the period. Finally, Wasatch Advisors Inc. lifted its position in shares of Abraxas Petroleum by 98.4% in the 1st quarter. Wasatch Advisors Inc. now owns 2,544,099 shares of the energy company’s stock worth $3,180,000 after purchasing an additional 1,261,814 shares during the period. Hedge funds and other institutional investors own 52.66% of the company’s stock.
About Abraxas Petroleum
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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