Brokerages expect Abraxas Petroleum Corporation (NASDAQ:AXAS) to post earnings per share of $0.07 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Abraxas Petroleum’s earnings. The highest EPS estimate is $0.08 and the lowest is $0.06. Abraxas Petroleum posted earnings per share of $0.01 during the same quarter last year, which suggests a positive year-over-year growth rate of 600%. The company is expected to announce its next earnings results on Tuesday, March 13th.

According to Zacks, analysts expect that Abraxas Petroleum will report full-year earnings of $0.15 per share for the current fiscal year, with EPS estimates ranging from $0.13 to $0.16. For the next year, analysts anticipate that the firm will post earnings of $0.28 per share, with EPS estimates ranging from $0.12 to $0.38. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Abraxas Petroleum.

Abraxas Petroleum (NASDAQ:AXAS) last announced its quarterly earnings results on Tuesday, November 7th. The energy company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $24.70 million during the quarter, compared to analysts’ expectations of $25.38 million. Abraxas Petroleum had a return on equity of 17.00% and a net margin of 18.83%. The firm’s revenue for the quarter was up 76.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.02) EPS.

Several brokerages have commented on AXAS. Zacks Investment Research upgraded shares of Abraxas Petroleum from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research note on Wednesday, October 11th. TheStreet upgraded shares of Abraxas Petroleum from a “d” rating to a “c-” rating in a research report on Tuesday, August 8th. Seaport Global Securities upgraded shares of Abraxas Petroleum from a “neutral” rating to a “buy” rating and upped their target price for the company from $2.00 to $2.50 in a research report on Friday, August 11th. Stifel Nicolaus set a $2.00 target price on shares of Abraxas Petroleum and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Canaccord Genuity restated a “buy” rating on shares of Abraxas Petroleum in a research report on Friday, September 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $2.31.

Shares of Abraxas Petroleum (NASDAQ:AXAS) opened at $2.15 on Monday. The company has a market cap of $356.66, a price-to-earnings ratio of 23.89 and a beta of 1.43. Abraxas Petroleum has a one year low of $1.45 and a one year high of $2.99. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of Abraxas Petroleum during the 2nd quarter valued at about $109,000. Raymond James Financial Services Advisors Inc. grew its holdings in Abraxas Petroleum by 149.4% during 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 last quarter. Susquehanna International Group LLP grew its holdings in Abraxas Petroleum by 73.0% during 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 last quarter. Voya Investment Management LLC grew its holdings in Abraxas Petroleum by 24.5% during 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 last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Abraxas Petroleum by 106.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 81,798 shares of the energy company’s stock valued at $154,000 after purchasing an additional 42,188 shares during the last quarter. Hedge funds and other institutional investors own 45.90% of the company’s stock.

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Abraxas Petroleum 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.

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Earnings History and Estimates for Abraxas Petroleum (NASDAQ:AXAS)

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