Abraxas Petroleum Corp. Given Buy Rating at Zacks (AXAS)
Abraxas Petroleum Corp. (NASDAQ:AXAS)‘s stock had its “buy” rating reiterated by Zacks in a research report issued to clients and investors on Thursday, AnalystRatingsNetwork.com reports. They currently have a $2.80 price target on the stock. Zacks‘ price target would indicate a potential downside of 3.45% from the company’s current price.
Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) traded up 3.94% on Thursday, hitting $2.90. 2,889,082 shares of the company’s stock traded hands. Abraxas Petroleum Corp. has a 1-year low of $1.56 and a 1-year high of $2.98. The stock’s 50-day moving average is $2.58 and its 200-day moving average is $2.37. The company’s market cap is $267.8 million.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last released its earnings data on Thursday, August 8th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.01. The company had revenue of $21.50 million for the quarter, compared to the consensus estimate of $22.51 million. On average, analysts predict that Abraxas Petroleum Corp. will post $0.14 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on AXAS. Analysts at SunTrust raised their price target on shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) from $2.85 to $2.90 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at TheStreet upgraded shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) from a “sell” rating to a “hold” rating in a research note to investors on Monday, September 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $2.65.
Abraxas Petroleum Corporation is an independent energy company primarily engaged in the acquisition, exploitation, development and production of oil and gas in the United States and Canada.
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