Abraxas Petroleum Corporation (AXAS) Given Average Rating of “Buy” by Brokerages
Abraxas Petroleum Corporation (NASDAQ:AXAS) has been assigned an average recommendation of “Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $2.50.
A number of equities research analysts recently issued reports on AXAS shares. Zacks Investment Research lowered Abraxas Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. BidaskClub upgraded Abraxas Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Stifel Nicolaus set a $2.00 price target on Abraxas Petroleum and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, Robert W. Baird upgraded Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 price target for the company in a research note on Tuesday, December 19th.
A number of hedge funds have recently bought and sold shares of AXAS. Rhumbline Advisers grew its stake in Abraxas Petroleum by 6.1% in the second quarter. Rhumbline Advisers now owns 162,768 shares of the energy company’s stock valued at $264,000 after purchasing an additional 9,300 shares in the last quarter. Wells Fargo & Company MN grew its stake in Abraxas Petroleum by 56.7% in the second quarter. Wells Fargo & Company MN now owns 322,978 shares of the energy company’s stock valued at $523,000 after purchasing an additional 116,912 shares in the last quarter. Alliancebernstein L.P. grew its stake in Abraxas Petroleum by 47.4% in the second quarter. Alliancebernstein L.P. now owns 150,200 shares of the energy company’s stock valued at $243,000 after purchasing an additional 48,300 shares in the last quarter. Teachers Advisors LLC grew its stake in Abraxas Petroleum by 6.2% in the second quarter. Teachers Advisors LLC now owns 270,123 shares of the energy company’s stock valued at $438,000 after purchasing an additional 15,828 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in Abraxas Petroleum by 114.5% in the second quarter. TIAA CREF Investment Management LLC now owns 1,184,780 shares of the energy company’s stock valued at $1,919,000 after purchasing an additional 632,370 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.
Abraxas Petroleum (NASDAQ:AXAS) last announced its earnings results 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 had a net margin of 18.83% and a return on equity of 17.00%. The firm had revenue of $24.70 million during the quarter, compared to analyst estimates of $25.38 million. During the same period in the prior year, the business posted ($0.02) EPS. The firm’s quarterly revenue was up 76.4% compared to the same quarter last year. equities analysts expect that Abraxas Petroleum will post 0.14 earnings per share for the current year.
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Abraxas Petroleum 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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