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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.

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