Abraxas Petroleum (AXAS) Posts Earnings Results
Abraxas Petroleum (NASDAQ:AXAS) issued its quarterly earnings data on Tuesday. The energy company reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04, Briefing.com reports. The company had revenue of $29.60 million during the quarter, compared to analysts’ expectations of $28.86 million. Abraxas Petroleum had a return on equity of 17.00% and a net margin of 18.83%. The business’s revenue was up 34.5% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share.
Abraxas Petroleum (NASDAQ AXAS) traded up $0.04 during trading on Tuesday, hitting $2.36. The company had a trading volume of 778,049 shares, compared to its average volume of 1,000,000. 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 fifty-two week low of $1.45 and a fifty-two week high of $2.74. The company has a market capitalization of $391.50, a PE ratio of 26.22 and a beta of 1.44.
A number of research analysts recently issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $3.50 price target on shares of Abraxas Petroleum in a report on Tuesday. BidaskClub cut Abraxas Petroleum from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 30th. Stifel Nicolaus lifted their price target on Abraxas Petroleum from $3.10 to $3.30 and gave the company a “buy” rating in a report on Tuesday, January 30th. Zacks Investment Research cut Abraxas Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Robert W. Baird raised 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $2.91.
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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