California State Teachers Retirement System lowered its holdings in shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) by 6.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 268,468 shares of the energy company’s stock after selling 19,700 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Abraxas Petroleum worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its holdings in Abraxas Petroleum by 0.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 785,438 shares of the energy company’s stock worth $1,272,000 after acquiring an additional 6,650 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Abraxas Petroleum by 9.0% in the 1st quarter. Alliancebernstein L.P. now owns 101,900 shares of the energy company’s stock worth $206,000 after purchasing an additional 8,400 shares during the period. Rhumbline Advisers boosted its stake in Abraxas Petroleum by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 162,768 shares of the energy company’s stock worth $264,000 after purchasing an additional 9,300 shares during the period. Smith Asset Management Group LP boosted its stake in Abraxas Petroleum by 1.8% in the 2nd quarter. Smith Asset Management Group LP now owns 586,050 shares of the energy company’s stock worth $949,000 after purchasing an additional 10,230 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Abraxas Petroleum by 15.8% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 105,097 shares of the energy company’s stock worth $212,000 after purchasing an additional 14,370 shares during the period. 45.90% of the stock is owned by hedge funds and other institutional investors.

Abraxas Petroleum Corporation (AXAS) opened at $2.09 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $340.07, a P/E ratio of 22.56 and a beta of 1.42. Abraxas Petroleum Corporation has a 52-week low of $1.45 and a 52-week high of $2.99.

Abraxas Petroleum (NASDAQ:AXAS) last posted its earnings results on Tuesday, November 7th. The energy company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $24.70 million for the quarter, compared to the consensus estimate of $25.38 million. Abraxas Petroleum had a net margin of 18.83% and a return on equity of 17.00%. The firm’s revenue was up 76.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) earnings per share. sell-side analysts predict that Abraxas Petroleum Corporation will post 0.15 earnings per share for the current fiscal year.

AXAS has been the subject of several recent analyst reports. Zacks Investment Research upgraded Abraxas Petroleum from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research note on Wednesday, October 11th. Stifel Nicolaus set a $2.00 price target on Abraxas Petroleum and gave the stock a “buy” rating in a research note on Thursday, October 5th. Canaccord Genuity restated a “buy” rating on shares of Abraxas Petroleum in a research note on Friday, September 8th. Finally, Seaport Global Securities upgraded Abraxas Petroleum from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2.00 to $2.50 in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $2.31.

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Abraxas Petroleum 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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Institutional Ownership by Quarter for Abraxas Petroleum (NASDAQ:AXAS)

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