Abraxas Petroleum Corp. Price Target Raised to $5.00 at SunTrust (AXAS)
Analysts at SunTrust raised their price objective on shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) from $4.00 to $5.00 in a research report issued to clients and investors on Monday, Analyst RN reports. The firm currently has a “neutral” rating on the stock. SunTrust’s target price would suggest a potential downside of 7.75% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity downgraded shares of Abraxas Petroleum Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. They now have a $4.25 price target on the stock, up previously from $4.00. Analysts at Global Hunter Securities upgraded shares of Abraxas Petroleum Corp. from a “neutral” rating to an “accumulate” rating in a research note on Thursday, March 13th. They now have a $4.50 price target on the stock, up previously from $4.00. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Abraxas Petroleum Corp. presently has an average rating of “Hold” and an average price target of $4.53.
Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) traded up 2.65% on Monday, hitting $5.42. 1,870,474 shares of the company’s stock traded hands. Abraxas Petroleum Corp. has a 52-week low of $2.01 and a 52-week high of $5.67. The stock has a 50-day moving average of $4.4 and a 200-day moving average of $3.57. The company has a market cap of $501.6 million and a P/E ratio of 12.88.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last issued its quarterly earnings data on Wednesday, March 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.07. On average, analysts predict that Abraxas Petroleum Corp. will post $0.38 earnings per share for the current fiscal year.
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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