Mackay Shields LLC purchased a new stake in shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 297,100 shares of the energy company’s stock, valued at approximately $859,000.

A number of other hedge funds have also made changes to their positions in AXAS. Metropolitan Life Insurance Co. NY purchased a new position in Abraxas Petroleum during the 4th quarter worth $110,000. Sowell Financial Services LLC purchased a new position in Abraxas Petroleum during the 1st quarter worth $156,000. MetLife Investment Advisors LLC boosted its holdings in Abraxas Petroleum by 262.8% during the 1st quarter. MetLife Investment Advisors LLC now owns 83,574 shares of the energy company’s stock worth $186,000 after acquiring an additional 60,535 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new position in Abraxas Petroleum during the 1st quarter worth $389,000. Finally, EAM Investors LLC purchased a new position in Abraxas Petroleum during the 2nd quarter worth $965,000. Institutional investors and hedge funds own 59.73% of the company’s stock.

AXAS opened at $2.25 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.07. The firm has a market cap of $361.77 million, a price-to-earnings ratio of 11.42 and a beta of 1.08. Abraxas Petroleum Corp. has a 1 year low of $1.59 and a 1 year high of $3.27.

Abraxas Petroleum (NASDAQ:AXAS) last posted its quarterly earnings data on Tuesday, August 7th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.03). The firm had revenue of $30.92 million for the quarter, compared to analysts’ expectations of $31.93 million. Abraxas Petroleum had a positive return on equity of 28.33% and a negative net margin of 3.70%. analysts expect that Abraxas Petroleum Corp. will post 0.28 EPS for the current fiscal year.

A number of research firms have issued reports on AXAS. ValuEngine downgraded shares of Abraxas Petroleum from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. BidaskClub downgraded shares of Abraxas Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. Canaccord Genuity reaffirmed a “buy” rating and set a $3.50 price objective on shares of Abraxas Petroleum in a report on Tuesday. TheStreet downgraded shares of Abraxas Petroleum from a “c” rating to a “d+” rating in a report on Wednesday, August 8th. Finally, Stifel Nicolaus cut their price objective on shares of Abraxas Petroleum from $4.80 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, May 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $3.44.

Abraxas Petroleum Profile

Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of oil and gas properties in the United States. The company operates oil and gas assets in the Permian/Delaware Basin, the Rocky Mountain, and South Texas regions.

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

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