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Abraxas Petroleum Corp. (NASDAQ:AXAS) posted its quarterly earnings results on Wednesday. The company reported $0.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.08 by $0.03, Stock Ratings News reports. The company had revenue of $33.60 million for the quarter, compared to the consensus estimate of $30.97 million.

A number of research firms have recently commented on AXAS. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Abraxas Petroleum Corp. in a research note on Wednesday, July 2nd. They now have a $7.00 price target on the stock, up previously from $6.00. Finally, analysts at SunTrust raised their price target on shares of Abraxas Petroleum Corp. from $6.00 to $6.50 in a research note on Thursday, June 19th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $5.49.

Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) opened at 5.02 on Wednesday. Abraxas Petroleum Corp. has a one year low of $2.41 and a one year high of $6.45. The stock has a 50-day moving average of $5.73 and a 200-day moving average of $4.61. The company has a market cap of $464.8 million and a P/E ratio of 11.34.

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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