Shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) have earned an average rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $2.25.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Abraxas Petroleum Corporation from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research note on Wednesday, October 11th. Stifel Nicolaus set a $2.00 target price on shares of Abraxas Petroleum Corporation and gave the stock a “buy” rating in a report on Thursday, October 5th. Canaccord Genuity reissued a “buy” rating on shares of Abraxas Petroleum Corporation in a report on Friday, September 8th. Seaport Global Securities raised shares of Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2.00 to $2.50 in a report on Friday, August 11th. Finally, TheStreet raised shares of Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a report on Tuesday, August 8th.

Institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its holdings in Abraxas Petroleum Corporation by 35.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 565,819 shares of the energy company’s stock worth $1,143,000 after acquiring an additional 149,062 shares in the last quarter. Vanguard Group Inc. grew its holdings in Abraxas Petroleum Corporation by 42.1% during the 1st quarter. Vanguard Group Inc. now owns 7,216,245 shares of the energy company’s stock valued at $14,577,000 after buying an additional 2,136,606 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in Abraxas Petroleum Corporation by 92.2% during the 1st quarter. Tudor Investment Corp ET AL now owns 79,586 shares of the energy company’s stock valued at $161,000 after buying an additional 38,179 shares in the last quarter. OxFORD Asset Management LLP grew its holdings in Abraxas Petroleum Corporation by 91.5% during the 2nd quarter. OxFORD Asset Management LLP now owns 247,809 shares of the energy company’s stock valued at $401,000 after buying an additional 118,416 shares in the last quarter. Finally, KCG Holdings Inc. grew its holdings in Abraxas Petroleum Corporation by 485.5% during the 1st quarter. KCG Holdings Inc. now owns 159,470 shares of the energy company’s stock valued at $322,000 after buying an additional 132,232 shares in the last quarter. 43.52% of the stock is owned by institutional investors.

Shares of Abraxas Petroleum Corporation (AXAS) traded down $0.01 during trading hours on Thursday, hitting $2.18. 2,232,864 shares of the stock traded hands, compared to its average volume of 1,200,000. Abraxas Petroleum Corporation has a 52-week low of $1.45 and a 52-week high of $2.99. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.32. The company has a market cap of $362.11, a PE ratio of 74.33 and a beta of 1.44.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last issued its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). Abraxas Petroleum Corporation had a return on equity of 7.68% and a net margin of 18.14%. The business had revenue of $13.15 million during the quarter, compared to the consensus estimate of $16.70 million. equities analysts forecast that Abraxas Petroleum Corporation will post 0.16 earnings per share for the current year.

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Abraxas Petroleum Corporation 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. 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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