Vanguard Group Inc. Has $14.58 Million Stake in Abraxas Petroleum Corporation (AXAS)
Vanguard Group Inc. raised its position in Abraxas Petroleum Corporation (NASDAQ:AXAS) by 42.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,216,245 shares of the energy company’s stock after buying an additional 2,136,606 shares during the period. Vanguard Group Inc.’s holdings in Abraxas Petroleum Corporation were worth $14,577,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of AXAS. Croft Leominster Inc. acquired a new stake in Abraxas Petroleum Corporation during the first quarter worth $143,000. American International Group Inc. raised its stake in Abraxas Petroleum Corporation by 24.9% in the first quarter. American International Group Inc. now owns 88,695 shares of the energy company’s stock worth $179,000 after buying an additional 17,674 shares in the last quarter. Stifel Financial Corp raised its stake in Abraxas Petroleum Corporation by 74.4% in the first quarter. Stifel Financial Corp now owns 95,921 shares of the energy company’s stock worth $195,000 after buying an additional 40,921 shares in the last quarter. Alliancebernstein L.P. raised its stake in Abraxas Petroleum Corporation by 9.0% in the first quarter. Alliancebernstein L.P. now owns 101,900 shares of the energy company’s stock worth $206,000 after buying an additional 8,400 shares in the last quarter. Finally, TFS Capital LLC raised its stake in Abraxas Petroleum Corporation by 234.3% in the first quarter. TFS Capital LLC now owns 121,073 shares of the energy company’s stock worth $245,000 after buying an additional 84,861 shares in the last quarter. Institutional investors own 44.48% of the company’s stock.
Shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) traded down 4.52% during midday trading on Monday, reaching $1.69. 248,968 shares of the company’s stock were exchanged. Abraxas Petroleum Corporation has a 12-month low of $1.32 and a 12-month high of $2.99. The firm has a 50-day moving average of $1.67 and a 200-day moving average of $1.87. The stock has a market capitalization of $274.38 million, a P/E ratio of 20.12 and a beta of 1.42.
Abraxas Petroleum Corporation (NASDAQ:AXAS) last released its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.01. Abraxas Petroleum Corporation had a net margin of 18.14% and a return on equity of 7.68%. The company had revenue of $13.15 million for the quarter, compared to analysts’ expectations of $16.70 million. Analysts anticipate that Abraxas Petroleum Corporation will post $0.14 EPS for the current fiscal year.
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A number of equities research analysts recently weighed in on the stock. Seaport Global Securities upgraded shares of Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $2.00 to $2.50 in a report on Friday, August 11th. TheStreet raised shares of Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of Abraxas Petroleum Corporation from a “strong sell” rating to a “hold” rating in a research report on Friday, August 18th. BidaskClub downgraded shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Canaccord Genuity assumed coverage on shares of Abraxas Petroleum Corporation in a research report on Monday, July 24th. They issued a “buy” rating and a $2.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $2.61.
About Abraxas Petroleum Corporation
Abraxas Petroleum Corporation is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas. As of December 31, 2016, the Company’s estimated net proved reserves were 44.7 million barrels of oil equivalent (MMBoe), of which 33.6% were classified as proved developed, 74% were oil and natural gas liquids (NGL), and 95% of which (on a PV-10 basis) were operated by the Company.
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