Abraxas Petroleum Corp. (NASDAQ:AXAS) – Stock analysts at SunTrust Banks lifted their FY2016 earnings per share estimates for Abraxas Petroleum Corp. in a research report issued on Monday. SunTrust Banks analyst N. Dingmann now anticipates that the brokerage will post earnings per share of ($0.11) for the year, up from their previous estimate of ($0.17). SunTrust Banks also issued estimates for Abraxas Petroleum Corp.’s Q4 2016 earnings at ($0.02) EPS.

Other research analysts have also issued research reports about the company. Seaport Global Securities raised 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 reaffirmed a “buy” rating and set a $2.00 price target on shares of Abraxas Petroleum Corp. in a research report on Tuesday, August 9th. Zacks Investment Research raised Abraxas Petroleum Corp. from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research report on Monday, August 1st. HC Wainwright initiated coverage on Abraxas Petroleum Corp. in a research report on Friday, October 21st. They set a “buy” rating and a $3.00 price target for the company. Finally, Rodman & Renshaw initiated coverage on Abraxas Petroleum Corp. in a research report on Friday, October 21st. They set 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 given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $1.94.

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

Abraxas Petroleum Corp. (NASDAQ:AXAS) traded up 2.22% on Thursday, hitting $1.84. The stock had a trading volume of 532,577 shares. The company’s market cap is $248.56 billion. Abraxas Petroleum Corp. has a 1-year low of $0.65 and a 1-year high of $1.93. The stock has a 50 day moving average price of $1.70 and a 200 day moving average price of $1.40.

Abraxas Petroleum Corp. (NASDAQ:AXAS) last posted its earnings results on Monday, November 14th. The energy company reported ($0.02) earnings per share for the quarter, beating the Zacks’ 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 had revenue of $14 million for the quarter, compared to analyst estimates of $15.16 million. During the same quarter last year, the company earned ($0.03) earnings per share. The company’s revenue for the quarter was down 13.0% on a year-over-year basis.

Several hedge funds have recently bought and sold shares of the company. Thomson Horstmann & Bryant Inc. increased its stake in Abraxas Petroleum Corp. by 18.5% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 2,222,240 shares of the energy company’s stock valued at $2,511,000 after buying an additional 347,100 shares during the last quarter. Sigma Planning Corp increased its stake in Abraxas Petroleum Corp. by 5.3% in the second quarter. Sigma Planning Corp now owns 326,400 shares of the energy company’s stock valued at $369,000 after buying an additional 16,400 shares during the last quarter. Smith Asset Management Group LP increased its stake in Abraxas Petroleum Corp. by 8.7% in the second quarter. Smith Asset Management Group LP now owns 536,310 shares of the energy company’s stock valued at $606,000 after buying an additional 42,921 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Abraxas Petroleum Corp. by 33.1% in the second quarter. Bank of New York Mellon Corp now owns 467,849 shares of the energy company’s stock valued at $529,000 after buying an additional 116,394 shares during the last quarter. Finally, California State Teachers Retirement System increased 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 valued at $293,000 after buying an additional 60,026 shares during the last quarter. Institutional investors own 38.21% of the company’s stock.

In related news, VP Lee T. Billingsley sold 100,000 shares of the company’s 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 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 Securities & Exchange Commission, which is accessible through this link. 12.30% of the stock is owned by corporate insiders.

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.

5 Day Chart for NASDAQ:AXAS

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