Abraxas Petroleum Corp. (NASDAQ:AXAS) Receives $1.75 Consensus PT from Brokerages
Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) have been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $1.75.
Several research firms have weighed in on AXAS. Canaccord Genuity reiterated a “buy” rating and issued a $2.00 price objective on shares of Abraxas Petroleum Corp. in a report on Wednesday, July 13th. Zacks Investment Research cut Abraxas Petroleum Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Finally, Ladenburg Thalmann began coverage on Abraxas Petroleum Corp. in a report on Wednesday, July 13th. They issued a “buy” rating for the company.
In other news, VP Lee T. Billingsley sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $1.68, for a total value of $168,000.00. Following the completion of the transaction, the vice president now owns 230,037 shares of the company’s stock, valued at approximately $386,462.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Virginia Retirement Systems ET AL purchased a new position in shares of Abraxas Petroleum Corp. during the second quarter valued at about $155,000. Teachers Advisors Inc. raised its position in Abraxas Petroleum Corp. by 16.8% in the second quarter. Teachers Advisors Inc. now owns 171,027 shares of the energy company’s stock worth $193,000 after buying an additional 24,591 shares during the period. Rhumbline Advisers raised its position in Abraxas Petroleum Corp. by 17.5% in the second quarter. Rhumbline Advisers now owns 174,336 shares of the energy company’s stock worth $197,000 after buying an additional 25,916 shares during the period. TFS Capital LLC bought a new position in Abraxas Petroleum Corp. during the second quarter worth $200,000. Finally, California State Teachers Retirement System raised its position in Abraxas Petroleum Corp. by 30.2% in the second quarter. California State Teachers Retirement System now owns 258,968 shares of the energy company’s stock worth $293,000 after buying an additional 60,026 shares during the period. 37.98% of the stock is owned by hedge funds and other institutional investors.
Abraxas Petroleum Corp. (NASDAQ:AXAS) opened at 1.69 on Wednesday. The stock’s market cap is $225.61 million. The company’s 50 day moving average price is $1.54 and its 200 day moving average price is $1.27. Abraxas Petroleum Corp. has a 12 month low of $0.65 and a 12 month high of $1.93.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last released its quarterly earnings data on Wednesday, August 10th. The energy company reported ($0.45) earnings per share for the quarter. Abraxas Petroleum Corp. had a negative return on equity of 15.56% and a negative net margin of 415.24%. The business earned $11 million during the quarter, compared to analysts’ expectations of $18.94 million. The company’s quarterly revenue was down 41.9% on a year-over-year basis. Equities analysts forecast that Abraxas Petroleum Corp. will post ($0.11) EPS for the current fiscal year.
Abraxas Petroleum Corp. Company Profile
Abraxas Petroleum Corporation is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas. The Company’s estimated net proved reserves are approximately 43.2 million barrels of oil equivalent (MMBoe), of which over 38% are classified as proved developed, approximately 71% are oil and natural gas liquids (NGL), and approximately 95% of which (on a PV-10 basis) are operated by the Company.
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