Abraxas Petroleum (AXAS) Cut to Hold at BidaskClub
BidaskClub cut shares of Abraxas Petroleum (NASDAQ:AXAS) from a buy rating to a hold rating in a research report released on Saturday morning.
A number of other analysts also recently commented on AXAS. Canaccord Genuity reiterated a buy rating and issued a $3.00 price objective on shares of Abraxas Petroleum in a research report on Wednesday, January 24th. Stifel Nicolaus raised their price objective on Abraxas Petroleum from $3.10 to $3.30 and gave the stock a buy rating in a research report on Tuesday, January 30th. Zacks Investment Research downgraded Abraxas Petroleum from a buy rating to a hold rating in a research report on Wednesday, November 15th. Finally, Robert W. Baird upgraded Abraxas Petroleum from a neutral rating to an outperform rating and set a $3.00 price objective for the company in a research report on Tuesday, December 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $2.81.
Shares of Abraxas Petroleum (AXAS) opened at $2.13 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61. Abraxas Petroleum has a 52-week low of $1.45 and a 52-week high of $2.74. The company has a market capitalization of $353.35, a P/E ratio of 23.67 and a beta of 1.39.
About Abraxas Petroleum
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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