Abraxas Petroleum (NASDAQ:AXAS)‘s stock had its “buy” rating reaffirmed by investment analysts at Stifel Nicolaus in a research note issued on Wednesday, MarketBeat Ratings reports. They currently have a $3.70 price objective on the energy company’s stock, up from their prior price objective of $3.20. Stifel Nicolaus’ target price would indicate a potential upside of 63.72% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Abraxas Petroleum from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 30th. Canaccord Genuity reiterated a “buy” rating and issued a $3.00 price target on shares of Abraxas Petroleum in a report on Wednesday, January 24th. Zacks Investment Research downgraded Abraxas Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Robert W. Baird upgraded Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 price target on the stock in a report on Tuesday, December 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $3.09.
Shares of Abraxas Petroleum (NASDAQ AXAS) opened at $2.26 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. Abraxas Petroleum has a fifty-two week low of $1.45 and a fifty-two week high of $2.74. The firm has a market capitalization of $391.50, a P/E ratio of 20.55 and a beta of 1.44.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY purchased a new position in Abraxas Petroleum during the 4th quarter worth $110,000. Citadel Advisors LLC increased its holdings in Abraxas Petroleum by 159.8% during the 4th quarter. Citadel Advisors LLC now owns 51,969 shares of the energy company’s stock worth $128,000 after purchasing an additional 31,969 shares during the period. Mycio Wealth Partners LLC purchased a new position in Abraxas Petroleum during the 4th quarter worth $135,000. Chicago Equity Partners LLC purchased a new position in Abraxas Petroleum during the 4th quarter worth $140,000. Finally, Raymond James Financial Services Advisors Inc. increased 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 worth $126,000 after purchasing an additional 40,200 shares during the period. Institutional investors own 51.85% 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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