Abraxas Petroleum Corp. (NASDAQ:AXAS) has earned a consensus rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $3.83.
AXAS has been the topic of a number of research analyst reports. Seaport Global Securities reaffirmed a “buy” rating on shares of Abraxas Petroleum in a report on Friday, July 20th. Stifel Nicolaus set a $5.00 target price on shares of Abraxas Petroleum and gave the company a “buy” rating in a report on Thursday, July 19th. BidaskClub raised shares of Abraxas Petroleum from a “hold” rating to a “buy” rating in a report on Thursday, June 28th. Canaccord Genuity reaffirmed a “buy” rating and issued a $3.50 target price on shares of Abraxas Petroleum in a report on Tuesday, August 28th. Finally, TheStreet cut shares of Abraxas Petroleum from a “c” rating to a “d+” rating in a report on Wednesday, August 8th.
Abraxas Petroleum stock opened at $2.40 on Friday. Abraxas Petroleum has a one year low of $1.76 and a one year high of $3.27. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market cap of $400.11 million, a PE ratio of 20.00 and a beta of 1.05.
Abraxas Petroleum (NASDAQ:AXAS) last issued its earnings results on Tuesday, August 7th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.03). The firm had revenue of $30.92 million during the quarter, compared to the consensus estimate of $31.93 million. Abraxas Petroleum had a negative net margin of 3.70% and a positive return on equity of 28.33%. sell-side analysts expect that Abraxas Petroleum will post 0.28 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of AXAS. Wells Fargo & Company MN raised its holdings in shares of Abraxas Petroleum by 12.3% in the 1st quarter. Wells Fargo & Company MN now owns 501,393 shares of the energy company’s stock valued at $1,113,000 after purchasing an additional 54,905 shares during the period. Thrivent Financial for Lutherans raised its holdings in Abraxas Petroleum by 29.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 648,178 shares of the energy company’s stock valued at $1,439,000 after acquiring an additional 146,857 shares during the period. Sowell Financial Services LLC bought a new position in Abraxas Petroleum in the 1st quarter valued at about $156,000. Heartland Advisors Inc. raised its holdings in Abraxas Petroleum by 32.2% in the 1st quarter. Heartland Advisors Inc. now owns 2,199,500 shares of the energy company’s stock valued at $4,883,000 after acquiring an additional 535,300 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Abraxas Petroleum by 113.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,704,748 shares of the energy company’s stock valued at $6,005,000 after acquiring an additional 1,438,229 shares during the period. 59.71% of the stock is currently owned by institutional investors.
About Abraxas Petroleum
Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of oil and gas properties in the United States. The company operates oil and gas assets in the Permian/Delaware Basin, the Rocky Mountain, and South Texas regions.
Recommended Story: What is Considered a Good Return on Equity (ROE)?
Receive News & Ratings for Abraxas Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abraxas Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.