Brokerages expect Abraxas Petroleum Corporation (NASDAQ:AXAS) to report sales of $31.57 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Abraxas Petroleum’s earnings, with estimates ranging from $29.60 million to $34.50 million. Abraxas Petroleum posted sales of $22.01 million during the same quarter last year, which indicates a positive year-over-year growth rate of 43.4%. The business is expected to issue its next earnings results on Tuesday, March 13th.

According to Zacks, analysts expect that Abraxas Petroleum will report full year sales of $31.57 million for the current year, with estimates ranging from $87.30 million to $91.20 million. For the next financial year, analysts expect that the company will post sales of $128.13 million per share, with estimates ranging from $87.90 million to $161.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Abraxas Petroleum.

Abraxas Petroleum (NASDAQ:AXAS) last released its earnings results on Tuesday, November 7th. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $24.70 million for the quarter, compared to analyst estimates of $25.38 million. Abraxas Petroleum had a return on equity of 17.00% and a net margin of 18.83%. The business’s revenue for the quarter was up 76.4% compared to the same quarter last year. During the same period last year, the company posted ($0.02) earnings per share.

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

A number of institutional investors have recently bought and sold shares of the business. Mutual of America Capital Management LLC increased its stake in shares of Abraxas Petroleum by 0.9% in the second quarter. Mutual of America Capital Management LLC now owns 785,438 shares of the energy company’s stock valued at $1,272,000 after buying an additional 6,650 shares during the period. Alliancebernstein L.P. grew its stake in Abraxas Petroleum by 9.0% during the first quarter. Alliancebernstein L.P. now owns 101,900 shares of the energy company’s stock worth $206,000 after purchasing an additional 8,400 shares during the period. Rhumbline Advisers grew its stake in Abraxas Petroleum by 6.1% during the second quarter. Rhumbline Advisers now owns 162,768 shares of the energy company’s stock worth $264,000 after purchasing an additional 9,300 shares during the period. Smith Asset Management Group LP grew its stake in Abraxas Petroleum by 1.8% during the second quarter. Smith Asset Management Group LP now owns 586,050 shares of the energy company’s stock worth $949,000 after purchasing an additional 10,230 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its stake in Abraxas Petroleum by 15.8% during the first quarter. Metropolitan Life Insurance Co. NY now owns 105,097 shares of the energy company’s stock worth $212,000 after purchasing an additional 14,370 shares during the period. Hedge funds and other institutional investors own 45.90% of the company’s stock.

Shares of Abraxas Petroleum (NASDAQ AXAS) opened at $2.20 on Wednesday. The stock has a market capitalization of $366.62, a price-to-earnings ratio of 24.56 and a beta of 1.43. Abraxas Petroleum has a 1-year low of $1.45 and a 1-year high of $2.99. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61.

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About Abraxas Petroleum

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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