Abraxas Petroleum Corp. Receives Average Rating of “Hold” from Brokerages (NASDAQ:AXAS)
Abraxas Petroleum Corp. (NASDAQ:AXAS) has been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the stock, AnalystRatingsNetwork reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $5.20.
Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) traded down 0.38% during mid-day trading on Wednesday, hitting $5.21. 179,358 shares of the company’s stock traded hands. Abraxas Petroleum Corp. has a one year low of $2.01 and a one year high of $5.80. The stock’s 50-day moving average is $5.15 and its 200-day moving average is $3.95. The company has a market cap of $482.4 million and a price-to-earnings ratio of 11.65.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last released its earnings data on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, beating the analysts’ 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. On average, analysts predict that Abraxas Petroleum Corp. will post $0.39 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on AXAS shares. Analysts at Canaccord Genuity raised their price target on shares of Abraxas Petroleum Corp. from $5.50 to $5.75 in a research note on Thursday, June 5th. They now have a “buy” rating on the stock. Separately, analysts at SunTrust upgraded shares of Abraxas Petroleum Corp. from a “neutral” rating to a “buy” rating in a research note on Thursday, June 5th. They now have a $6.00 price target on the stock, up previously from $5.00. They noted that the move was a valuation call. Finally, analysts at Imperial Capital reiterated an “in-line” rating on shares of Abraxas Petroleum Corp. in a research note on Thursday, May 22nd. They now have a $5.25 price target on the stock, down previously from $5.75.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.