Analysts expect that Abraxas Petroleum Corporation (NASDAQ:AXAS) will announce $0.03 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Abraxas Petroleum Corporation’s earnings, with estimates ranging from $0.03 to $0.04. Abraxas Petroleum Corporation posted earnings per share of ($0.02) in the same quarter last year, which would suggest a positive year-over-year growth rate of 250%. The business is expected to report its next earnings results on Tuesday, November 14th.

According to Zacks, analysts expect that Abraxas Petroleum Corporation will report full year earnings of $0.14 per share for the current fiscal year, with EPS estimates ranging from $0.11 to $0.20. For the next year, analysts forecast that the company will post earnings of $0.18 per share, with EPS estimates ranging from $0.08 to $0.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Abraxas Petroleum Corporation.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last posted its earnings results on Tuesday, August 8th. The energy company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by $0.01. The firm had revenue of $13.15 million during the quarter, compared to the consensus estimate of $16.70 million. Abraxas Petroleum Corporation had a net margin of 18.14% and a return on equity of 7.68%.

A number of equities research analysts have recently weighed in on AXAS shares. Zacks Investment Research lowered Abraxas Petroleum Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Stifel Nicolaus upped their price target on Abraxas Petroleum Corporation from $2.40 to $2.60 and gave the company a “buy” rating in a research report on Thursday, May 25th. Seaport Global Securities lowered Abraxas Petroleum Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the company from $3.25 to $2.00 in a research report on Wednesday, June 21st. BidaskClub downgraded Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $3.00 target price on shares of Abraxas Petroleum Corporation in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $2.58.

Abraxas Petroleum Corporation (NASDAQ:AXAS) traded up 1.18% during trading on Thursday, reaching $1.72. The company’s stock had a trading volume of 558,826 shares. The stock has a 50-day moving average price of $1.68 and a 200 day moving average price of $1.85. The company has a market cap of $281.82 million, a PE ratio of 12.29 and a beta of 1.48. Abraxas Petroleum Corporation has a 52-week low of $1.39 and a 52-week high of $2.99.

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A number of hedge funds have recently modified their holdings of AXAS. Van ECK Associates Corp bought a new position in shares of Abraxas Petroleum Corporation during the 1st quarter valued at $2,616,000. Oxford Asset Management bought a new position in Abraxas Petroleum Corporation in the 1st quarter worth $261,000. Vanguard Group Inc. raised its holdings in Abraxas Petroleum Corporation by 42.1% in the 1st quarter. Vanguard Group Inc. now owns 7,216,245 shares of the energy company’s stock worth $14,577,000 after purchasing an additional 2,136,606 shares during the period. Formula Growth Ltd. bought a new position in Abraxas Petroleum Corporation in the 1st quarter worth $5,878,000. Finally, TFS Capital LLC raised its holdings in Abraxas Petroleum Corporation by 234.3% in the 1st quarter. TFS Capital LLC now owns 121,073 shares of the energy company’s stock worth $245,000 after purchasing an additional 84,861 shares during the period. Institutional investors and hedge funds own 44.48% of the company’s stock.

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

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