Mackay Shields LLC Invests $859,000 in Abraxas Petroleum Corp. (AXAS) Stock
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.
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.
Featured Story: Average Daily Trade Volume – What You Need to Know
Want to see what other hedge funds are holding AXAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abraxas Petroleum Corp. (NASDAQ:AXAS).
Receive News & Ratings for Abraxas Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abraxas Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.