Q4 2017 EPS Estimates for Abraxas Petroleum Corp. (AXAS) Reduced by Seaport Global Securities

Abraxas Petroleum Corp. (NASDAQ:AXAS) – Seaport Global Securities decreased their Q4 2017 earnings estimates for shares of Abraxas Petroleum in a report issued on Monday. Seaport Global Securities analyst M. Kelly now forecasts that the energy company will earn $0.05 per share for the quarter, down from their prior estimate of $0.07.

AXAS has been the topic of several other reports. BidaskClub upgraded shares of Abraxas Petroleum from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Zacks Investment Research lowered shares of Abraxas Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Robert W. Baird upgraded shares of Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 target price on the stock in a report on Tuesday, December 19th. Canaccord Genuity reiterated a “buy” rating and issued a $3.00 target price on shares of Abraxas Petroleum in a report on Wednesday, January 24th. Finally, Stifel Nicolaus boosted their target price on shares of Abraxas Petroleum from $3.10 to $3.30 and gave the company a “buy” rating in a report on Tuesday, January 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $2.81.

Abraxas Petroleum (AXAS) opened at $2.35 on Wednesday. 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 cap of $384.86, a PE ratio of 25.78 and a beta of 1.39. Abraxas Petroleum has a fifty-two week low of $1.45 and a fifty-two week high of $2.74.

Abraxas Petroleum (NASDAQ:AXAS) last announced its quarterly earnings data 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 business had revenue of $24.70 million for the quarter, compared to analysts’ expectations of $25.38 million. Abraxas Petroleum had a net margin of 18.83% and a return on equity of 17.00%. The firm’s revenue was up 76.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) EPS.

Large investors have recently bought and sold shares of the business. Susquehanna International Group LLP boosted its holdings in Abraxas Petroleum 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 last quarter. Voya Investment Management LLC lifted its holdings in shares of Abraxas Petroleum by 24.5% in the 2nd quarter. Voya Investment Management LLC now owns 73,546 shares of the energy company’s stock worth $119,000 after acquiring an additional 14,483 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Abraxas Petroleum by 149.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 67,101 shares of the energy company’s stock worth $126,000 after acquiring an additional 40,200 shares during the last quarter. Mycio Wealth Partners LLC acquired a new position in shares of Abraxas Petroleum in the 4th quarter worth approximately $135,000. Finally, Chicago Equity Partners LLC acquired a new position in shares of Abraxas Petroleum in the 4th quarter worth approximately $140,000. Institutional investors own 46.89% 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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