Canaccord Genuity Upgrades Abraxas Petroleum Corp. to “Buy” (AXAS)
Abraxas Petroleum Corp. (NASDAQ:AXAS) was upgraded by Canaccord Genuity from a “hold” rating to a “buy” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Robert W. Baird raised their price target on shares of Abraxas Petroleum Corp. from $5.00 to $6.00 in a research note on Monday, May 12th. Separately, analysts at Imperial Capital initiated coverage on shares of Abraxas Petroleum Corp. in a research note on Wednesday, April 30th. They set an “in-line” rating and a $5.75 price target on the stock. Finally, analysts at SunTrust raised their price target on shares of Abraxas Petroleum Corp. from $4.00 to $5.00 in a research note on Monday, April 28th. They now have a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $4.99.
Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) opened at 4.75 on Tuesday. Abraxas Petroleum Corp. has a 52 week low of $2.01 and a 52 week high of $5.80. The stock has a 50-day moving average of $4.89 and a 200-day moving average of $3.75. The company has a market cap of $439.8 million and a price-to-earnings ratio of 10.42.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last released its earnings data on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $25.90 million for the quarter, compared to the consensus estimate of $24.03 million. Analysts expect that Abraxas Petroleum Corp. will post $0.36 EPS 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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