Abraxas Petroleum Corporation (NASDAQ:AXAS)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity in a research note issued on Friday.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus upped their price target on shares of Abraxas Petroleum Corporation from $2.40 to $2.60 and gave the company a “buy” rating in a research note on Thursday, May 25th. Zacks Investment Research upgraded shares of Abraxas Petroleum Corporation from a “strong sell” rating to a “hold” rating in a research note on Friday, August 18th. TheStreet upgraded shares of Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a research note on Tuesday, August 8th. Seaport Global Securities upgraded shares of Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and upped their price target for the company from $2.00 to $2.50 in a research note on Friday, August 11th. Finally, BidaskClub lowered shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $2.58.

Abraxas Petroleum Corporation (NASDAQ:AXAS) traded down 2.647% during midday trading on Friday, reaching $1.655. 336,946 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $1.69 and its 200-day moving average is $1.83. The stock has a market capitalization of $268.70 million, a price-to-earnings ratio of 19.702 and a beta of 1.48. Abraxas Petroleum Corporation has a 12-month low of $1.39 and a 12-month high of $2.99.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last issued its quarterly earnings results on Tuesday, August 8th. The energy company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.01. Abraxas Petroleum Corporation had a net margin of 18.14% and a return on equity of 7.68%. The company had revenue of $13.15 million for the quarter, compared to analyst estimates of $16.70 million. On average, equities analysts forecast that Abraxas Petroleum Corporation will post $0.14 earnings per share for the current year.

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Several large investors have recently added to or reduced their stakes in AXAS. Cortina Asset Management LLC acquired a new stake in shares of Abraxas Petroleum Corporation in the second quarter worth $4,887,000. Biglari Capital CORP. acquired a new stake in shares of Abraxas Petroleum Corporation in the fourth quarter worth $4,052,000. Formula Growth Ltd. acquired a new stake in shares of Abraxas Petroleum Corporation in the first quarter worth $5,878,000. UBS Oconnor LLC increased its stake in shares of Abraxas Petroleum Corporation by 542.8% in the first quarter. UBS Oconnor LLC now owns 3,091,295 shares of the energy company’s stock worth $6,244,000 after acquiring an additional 2,610,368 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Abraxas Petroleum Corporation by 42.1% in the first quarter. Vanguard Group Inc. now owns 7,216,245 shares of the energy company’s stock worth $14,577,000 after acquiring an additional 2,136,606 shares during the period. Hedge funds and other institutional investors own 44.48% of the company’s stock.

Abraxas Petroleum Corporation 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. As of December 31, 2016, the Company’s estimated net proved reserves were 44.7 million barrels of oil equivalent (MMBoe), of which 33.6% were classified as proved developed, 74% were oil and natural gas liquids (NGL), and 95% of which (on a PV-10 basis) were operated by the Company.

Analyst Recommendations for Abraxas Petroleum Corporation (NASDAQ:AXAS)

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