Analysts expect that Abraxas Petroleum Corporation (NASDAQ:AXAS) will post $31.27 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Abraxas Petroleum Corporation’s earnings, with the highest sales estimate coming in at $32.50 million and the lowest estimate coming in at $29.60 million. Abraxas Petroleum Corporation reported sales of $22.01 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 42.1%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, March 13th.

On average, analysts expect that Abraxas Petroleum Corporation will report full-year sales of $31.27 million for the current financial year, with estimates ranging from $87.90 million to $90.10 million. For the next fiscal year, analysts expect that the company will post sales of $130.37 million per share, with estimates ranging from $87.90 million to $163.40 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Abraxas Petroleum Corporation.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last issued its quarterly earnings data on Tuesday, November 7th. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). Abraxas Petroleum Corporation had a return on equity of 17.00% and a net margin of 18.83%. The firm had revenue of $24.70 million during the quarter, compared to the consensus estimate of $25.38 million. During the same period in the previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was up 76.4% on a year-over-year basis.

A number of equities research analysts have issued reports on AXAS shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $2.20 price objective on shares of Abraxas Petroleum Corporation in a research report on Sunday, September 3rd. Zacks Investment Research raised shares of Abraxas Petroleum Corporation from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research report on Wednesday, October 11th. Canaccord Genuity reaffirmed a “buy” rating on shares of Abraxas Petroleum Corporation in a research report on Friday, September 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, Seaport Global Securities upgraded shares of Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2.00 to $2.50 in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Abraxas Petroleum Corporation has an average rating of “Hold” and a consensus target price of $2.31.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Abraxas Petroleum Corporation by 15.3% in the second quarter. Vanguard Group Inc. now owns 8,322,387 shares of the energy company’s stock valued at $13,483,000 after acquiring an additional 1,106,142 shares during the last quarter. Formula Growth Ltd. boosted its stake in Abraxas Petroleum Corporation by 7.2% in the third quarter. Formula Growth Ltd. now owns 3,714,682 shares of the energy company’s stock valued at $6,984,000 after acquiring an additional 250,000 shares during the last quarter. State Street Corp boosted its stake in Abraxas Petroleum Corporation by 12.1% in the second quarter. State Street Corp now owns 2,550,295 shares of the energy company’s stock valued at $4,133,000 after acquiring an additional 274,421 shares during the last quarter. Northern Trust Corp boosted its stake in Abraxas Petroleum Corporation by 8.2% in the second quarter. Northern Trust Corp now owns 2,114,272 shares of the energy company’s stock valued at $3,425,000 after acquiring an additional 160,223 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Abraxas Petroleum Corporation by 15.6% in the second quarter. Van ECK Associates Corp now owns 1,497,700 shares of the energy company’s stock valued at $2,426,000 after acquiring an additional 202,500 shares during the last quarter. Hedge funds and other institutional investors own 43.58% of the company’s stock.

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Shares of Abraxas Petroleum Corporation (AXAS) opened at $2.04 on Friday. Abraxas Petroleum Corporation has a 52-week low of $1.45 and a 52-week high of $2.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market cap of $340.07, a PE ratio of 22.78 and a beta of 1.44.

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

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