Brokers Set Expectations for Abraxas Petroleum Corp.’s Q4 2016 Earnings (AXAS)
Abraxas Petroleum Corp. (NASDAQ:AXAS) – Research analysts at Seaport Global Securities issued their Q4 2016 EPS estimates for Abraxas Petroleum Corp. in a report released on Monday. Seaport Global Securities analyst M. Kelly expects that the firm will earn ($0.01) per share for the quarter. Seaport Global Securities has a “Accumulate” rating on the stock.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last announced its earnings results on Wednesday, August 10th. The energy company reported ($0.45) earnings per share for the quarter. The business had revenue of $11 million for the quarter, compared to the consensus estimate of $18.94 million. Abraxas Petroleum Corp. had a negative net margin of 415.24% and a negative return on equity of 15.56%. The firm’s quarterly revenue was down 41.9% on a year-over-year basis.
Other equities analysts have also recently issued research reports about the company. Ladenburg Thalmann assumed coverage on Abraxas Petroleum Corp. in a research report on Wednesday, July 13th. They set a “buy” rating for the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $2.00 price target on shares of Abraxas Petroleum Corp. in a report on Wednesday, July 13th. Finally, Zacks Investment Research cut Abraxas Petroleum Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $1.46.
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Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) traded down 0.56% during mid-day trading on Tuesday, reaching $1.78. The company’s stock had a trading volume of 320,979 shares. The company has a 50 day moving average of $1.54 and a 200-day moving average of $1.28. The firm’s market capitalization is $237.62 million. Abraxas Petroleum Corp. has a 12 month low of $0.65 and a 12 month high of $1.85.
Several large investors have recently added to or reduced their stakes in the stock. UBS Oconnor LLC bought a new stake in Abraxas Petroleum Corp. during the second quarter valued at $751,000. State Street Corp raised its stake in Abraxas Petroleum Corp. by 2.2% in the second quarter. State Street Corp now owns 1,396,438 shares of the energy company’s stock worth $1,577,000 after buying an additional 29,402 shares during the period. Rhumbline Advisers raised its stake in Abraxas Petroleum Corp. by 17.5% in the second quarter. Rhumbline Advisers now owns 174,336 shares of the energy company’s stock worth $197,000 after buying an additional 25,916 shares during the period. Teachers Advisors Inc. raised its stake in Abraxas Petroleum Corp. by 16.8% in the second quarter. Teachers Advisors Inc. now owns 171,027 shares of the energy company’s stock worth $193,000 after buying an additional 24,591 shares during the period. Finally, TFS Capital LLC acquired a new stake in Abraxas Petroleum Corp. during the second quarter worth approximately $200,000. Institutional investors own 37.98% of the company’s stock.
In other news, VP Lee T. Billingsley sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $1.68, for a total value of $168,000.00. Following the sale, the vice president now directly owns 230,037 shares in the company, valued at approximately $386,462.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.30% of the stock is owned by insiders.
Abraxas Petroleum Corp. Company Profile
Abraxas Petroleum Corporation is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas. The Company’s estimated net proved reserves are approximately 43.2 million barrels of oil equivalent (MMBoe), of which over 38% are classified as proved developed, approximately 71% are oil and natural gas liquids (NGL), and approximately 95% of which (on a PV-10 basis) are operated by the Company.
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