Abraxas Petroleum Corporation (NASDAQ:AXAS) has been assigned an average recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $2.25.

Several research analysts have issued reports on the company. Zacks Investment Research raised Abraxas Petroleum Corporation from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a report on Wednesday, October 11th. TheStreet raised Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a report on Tuesday, August 8th. Seaport Global Securities raised Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2.00 to $2.50 in a report on Friday, August 11th. Stifel Nicolaus set a $2.00 price objective on Abraxas Petroleum Corporation and gave the stock a “buy” rating in a report on Thursday, October 5th. Finally, BidaskClub downgraded Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th.

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of Abraxas Petroleum Corporation in the 2nd quarter valued at $109,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Abraxas Petroleum Corporation by 149.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 67,101 shares of the energy company’s stock valued at $126,000 after purchasing an additional 40,200 shares during the period. Susquehanna International Group LLP lifted its stake in shares of Abraxas Petroleum Corporation by 73.0% in the 2nd quarter. Susquehanna International Group LLP now owns 67,792 shares of the energy company’s stock valued at $110,000 after purchasing an additional 28,606 shares during the period. Voya Investment Management LLC lifted its stake in shares of Abraxas Petroleum Corporation by 24.5% in the 2nd quarter. Voya Investment Management LLC now owns 73,546 shares of the energy company’s stock valued at $119,000 after purchasing an additional 14,483 shares during the period. Finally, Tudor Investment Corp ET AL lifted its stake in shares of Abraxas Petroleum Corporation by 92.2% in the 1st quarter. Tudor Investment Corp ET AL now owns 79,586 shares of the energy company’s stock valued at $161,000 after purchasing an additional 38,179 shares during the period. 43.35% of the stock is currently owned by institutional investors.

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Abraxas Petroleum Corporation (NASDAQ:AXAS) last posted its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Abraxas Petroleum Corporation had a return on equity of 7.68% and a net margin of 18.14%. The firm had revenue of $13.15 million for the quarter, compared to analyst estimates of $16.70 million.

About Abraxas Petroleum Corporation

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.

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