Shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) have earned an average rating of “Buy” from the seven research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $2.50.

Several equities analysts have weighed in on the company. BidaskClub raised Abraxas Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Robert W. Baird raised Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 target price on the stock in a research note on Tuesday, December 19th. Zacks Investment Research lowered Abraxas Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Stifel Nicolaus set a $2.00 target price on Abraxas Petroleum and gave the company a “buy” rating in a research note on Thursday, October 5th.

Abraxas Petroleum (NASDAQ AXAS) opened at $2.66 on Tuesday. Abraxas Petroleum has a one year low of $1.45 and a one year high of $2.88. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $441.27, a PE ratio of 29.56 and a beta of 1.42.

Abraxas Petroleum (NASDAQ:AXAS) last released its earnings results on Tuesday, November 7th. The energy company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). Abraxas Petroleum had a net margin of 18.83% and a return on equity of 17.00%. The company had revenue of $24.70 million during the quarter, compared to analyst estimates of $25.38 million. During the same period in the previous year, the company posted ($0.02) EPS. The company’s quarterly revenue was up 76.4% compared to the same quarter last year. equities research analysts expect that Abraxas Petroleum will post 0.14 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Abraxas Petroleum by 149.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 67,101 shares of the energy company’s stock worth $126,000 after purchasing an additional 40,200 shares during the period. Susquehanna International Group LLP raised its position in shares of Abraxas Petroleum by 73.0% during the second quarter. Susquehanna International Group LLP now owns 67,792 shares of the energy company’s stock worth $110,000 after purchasing an additional 28,606 shares during the period. Voya Investment Management LLC raised its position in shares of Abraxas Petroleum by 24.5% during the second quarter. Voya Investment Management LLC now owns 73,546 shares of the energy company’s stock worth $119,000 after purchasing an additional 14,483 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Abraxas Petroleum by 106.5% during the third quarter. Cubist Systematic Strategies LLC now owns 81,798 shares of the energy company’s stock worth $154,000 after purchasing an additional 42,188 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Abraxas Petroleum by 311.3% during the third quarter. Dimensional Fund Advisors LP now owns 86,128 shares of the energy company’s stock worth $162,000 after purchasing an additional 65,188 shares during the period. 45.82% of the stock is currently owned by institutional investors.

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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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