Abraxas Petroleum Corporation (NASDAQ:AXAS) received a $2.00 price objective from Stifel Nicolaus in a note issued to investors on Thursday. The firm presently has a “buy” rating on the energy company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 5.26% from the stock’s current price.

AXAS has been the subject of several other research reports. Seaport Global Securities cut shares of Abraxas Petroleum Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $3.25 to $2.00 in a research note on Wednesday, June 21st. Zacks Investment Research upgraded shares of Abraxas Petroleum Corporation from a “strong sell” rating to a “hold” rating in a research note on Friday, August 18th. TheStreet upgraded shares of Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a research note on Tuesday, August 8th. BidaskClub cut shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Abraxas Petroleum Corporation in a research note on Friday, September 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $2.60.

Abraxas Petroleum Corporation (NASDAQ AXAS) opened at 1.89 on Thursday. The company’s 50 day moving average is $1.77 and its 200 day moving average is $1.81. The firm has a market cap of $306.85 million, a P/E ratio of 22.50 and a beta of 1.46. Abraxas Petroleum Corporation has a 52-week low of $1.45 and a 52-week high of $2.99.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last announced its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $16.70 million. Equities research analysts forecast that Abraxas Petroleum Corporation will post $0.14 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new position in Abraxas Petroleum Corporation during the second quarter worth about $109,000. Susquehanna International Group LLP raised its position in Abraxas Petroleum Corporation by 73.0% during the second quarter. Susquehanna International Group LLP now owns 67,792 shares of the energy company’s stock worth $110,000 after acquiring an additional 28,606 shares during the last quarter. Voya Investment Management LLC raised its position in Abraxas Petroleum Corporation by 24.5% during the second quarter. Voya Investment Management LLC now owns 73,546 shares of the energy company’s stock worth $119,000 after acquiring an additional 14,483 shares during the last quarter. First Quadrant L P CA acquired a new position in Abraxas Petroleum Corporation during the second quarter worth about $152,000. Finally, Citigroup Inc. raised its position in Abraxas Petroleum Corporation by 784.5% during the second quarter. Citigroup Inc. now owns 95,544 shares of the energy company’s stock worth $155,000 after acquiring an additional 84,742 shares during the last quarter. Institutional investors own 44.49% 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.

Analyst Recommendations for Abraxas Petroleum Corporation (NASDAQ:AXAS)

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