Seaport Global Securities Comments on Abraxas Petroleum Corp.’s Q4 2016 Earnings (AXAS)
Abraxas Petroleum Corp. (NASDAQ:AXAS) – Analysts at Seaport Global Securities issued their Q4 2016 earnings per share (EPS) estimates for Abraxas Petroleum Corp. in a research note issued on Monday. Seaport Global Securities analyst M. Kelly forecasts that the firm will earn ($0.01) per share for the quarter. Seaport Global Securities currently has a “Accumulate” rating and a $2.50 target price on the stock.
AXAS has been the subject of a number of other research reports. Ladenburg Thalmann began coverage on Abraxas Petroleum Corp. in a research report on Wednesday, July 13th. They set a “buy” rating for the company. Zacks Investment Research downgraded Abraxas Petroleum Corp. from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $2.00 price objective on shares of Abraxas Petroleum Corp. in a research note on Wednesday, July 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $1.61.
Abraxas Petroleum Corp. (NASDAQ:AXAS) traded down 3.198% during midday trading on Tuesday, reaching $1.665. 443,576 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $1.57 and a 200 day moving average price of $1.29. The company’s market cap is $222.27 million. Abraxas Petroleum Corp. has a 12 month low of $0.65 and a 12 month high of $1.85.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last posted its quarterly earnings results 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 had revenue of $11 million for the quarter, compared to analyst estimates of $18.94 million. The company’s quarterly revenue was down 41.9% compared to the same quarter last year.
In related news, VP Lee T. Billingsley sold 100,000 shares of the stock in a transaction 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 sale, the vice president now owns 230,037 shares in the company, valued at approximately $386,462.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.30% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL acquired a new stake in Abraxas Petroleum Corp. during the second quarter worth $155,000. Teachers Advisors Inc. boosted its stake 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 boosted its stake 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 acquired a new stake in Abraxas Petroleum Corp. during the second quarter worth $200,000. Finally, California State Teachers Retirement System boosted its stake 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. Institutional investors and hedge funds own 37.98% of the company’s stock.
About Abraxas Petroleum Corp.
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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