Abraxas Petroleum Corp. (NASDAQ:AXAS) posted its quarterly earnings data on Monday. The energy company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Abraxas Petroleum Corp. had a negative return on equity of 28.12% and a negative net margin of 330.92%. The company earned $14 million during the quarter, compared to analyst estimates of $15.16 million. During the same period in the previous year, the business earned ($0.03) EPS. Abraxas Petroleum Corp.’s quarterly revenue was down 13.0% on a year-over-year basis.

Abraxas Petroleum Corp. (NASDAQ:AXAS) opened at 1.73 on Monday. The firm’s market capitalization is $230.95 million. The company has a 50-day moving average price of $1.68 and a 200-day moving average price of $1.39. Abraxas Petroleum Corp. has a 12-month low of $0.65 and a 12-month high of $1.93.

Earnings History for Abraxas Petroleum Corp. (NASDAQ:AXAS)

AXAS has been the subject of several research reports. Zacks Investment Research lowered Abraxas Petroleum Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 27th. Rodman & Renshaw began coverage on Abraxas Petroleum Corp. in a research report on Friday, October 21st. They issued a “buy” rating and a $3.00 price target for the company. Seaport Global Securities upgraded Abraxas Petroleum Corp. from a “neutral” rating to an “accumulate” rating and set a $2.50 price target for the company in a research report on Monday, October 10th. Canaccord Genuity set a $2.00 price target on Abraxas Petroleum Corp. and gave the company a “buy” rating in a research report on Tuesday, September 20th. Finally, HC Wainwright began coverage on Abraxas Petroleum Corp. in a research report on Friday, October 21st. They issued a “buy” rating and a $3.00 price target for the company. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Abraxas Petroleum Corp. presently has an average rating of “Buy” and a consensus target price of $1.94.

In other Abraxas Petroleum Corp. news, VP Lee T. Billingsley sold 100,000 shares of Abraxas Petroleum Corp. stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $1.68, for a total value of $168,000.00. Following the completion of the sale, the vice president now directly owns 230,037 shares of the company’s stock, valued at approximately $386,462.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in Abraxas Petroleum Corp. by 0.7% in the third quarter. California State Teachers Retirement System now owns 260,768 shares of the energy company’s stock valued at $441,000 after buying an additional 1,800 shares during the last quarter. BlackRock Advisors LLC boosted its stake in Abraxas Petroleum Corp. by 28.4% in the third quarter. BlackRock Advisors LLC now owns 71,192 shares of the energy company’s stock valued at $120,000 after buying an additional 15,754 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in Abraxas Petroleum Corp. by 4.4% in the third quarter. BlackRock Investment Management LLC now owns 491,492 shares of the energy company’s stock valued at $831,000 after buying an additional 20,505 shares during the last quarter. Teachers Advisors LLC boosted its stake in Abraxas Petroleum Corp. by 13.6% in the third quarter. Teachers Advisors LLC now owns 194,283 shares of the energy company’s stock valued at $328,000 after buying an additional 23,256 shares during the last quarter. Finally, 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 valued at $193,000 after buying an additional 24,591 shares during the last quarter. 37.75% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:AXAS

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