Abraxas Petroleum Corp. (NASDAQ:AXAS) – Research analysts at Seaport Global Securities decreased their Q4 2017 EPS estimates for shares of Abraxas Petroleum in a research note issued on Monday. Seaport Global Securities analyst M. Kelly now anticipates that the energy company will earn $0.05 per share for the quarter, down from their previous estimate of $0.07.

Abraxas Petroleum (NASDAQ:AXAS) last announced its quarterly earnings results on Tuesday, November 7th. The energy company reported $0.04 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 business 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 business posted ($0.02) EPS. The firm’s revenue was up 76.4% on a year-over-year basis.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus increased their price target on shares of Abraxas Petroleum from $3.10 to $3.30 and gave the company a “buy” rating in a report on Tuesday, January 30th. BidaskClub downgraded shares of Abraxas Petroleum from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 30th. Canaccord Genuity reaffirmed a “buy” rating and issued a $3.00 price target on shares of Abraxas Petroleum in a report on Wednesday, January 24th. Zacks Investment Research raised shares of Abraxas Petroleum from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a report on Wednesday, October 11th. Finally, Robert W. Baird raised shares of Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 price target for the company in a report on Tuesday, December 19th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Abraxas Petroleum has an average rating of “Buy” and an average target price of $2.81.

Abraxas Petroleum (NASDAQ AXAS) opened at $2.35 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48. Abraxas Petroleum has a 1-year low of $1.45 and a 1-year high of $2.74. The company has a market cap of $384.86, a PE ratio of 25.78 and a beta of 1.39.

A number of hedge funds and other institutional investors have recently made changes to their positions in AXAS. Susquehanna International Group LLP lifted its stake in Abraxas Petroleum by 73.0% in the second quarter. Susquehanna International Group LLP now owns 67,792 shares of the energy company’s stock worth $110,000 after purchasing an additional 28,606 shares during the last quarter. Voya Investment Management LLC lifted its stake in Abraxas Petroleum by 24.5% in the second quarter. Voya Investment Management LLC now owns 73,546 shares of the energy company’s stock worth $119,000 after purchasing an additional 14,483 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Abraxas Petroleum by 149.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 67,101 shares of the energy company’s stock worth $126,000 after purchasing an additional 40,200 shares during the last quarter. Mycio Wealth Partners LLC bought a new stake in Abraxas Petroleum in the fourth quarter worth about $135,000. Finally, Chicago Equity Partners LLC bought a new stake in Abraxas Petroleum in the fourth quarter worth about $140,000. 46.89% of the stock is owned by institutional investors and hedge funds.

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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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