Algert Global LLC Acquires New Position in Abraxas Petroleum Corporation (AXAS)

Algert Global LLC acquired a new stake in shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 338,201 shares of the energy company’s stock, valued at approximately $548,000.

Other hedge funds also recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted its stake in shares of Abraxas Petroleum Corporation by 0.8% in the first quarter. Mutual of America Capital Management LLC now owns 778,788 shares of the energy company’s stock valued at $1,573,000 after buying an additional 5,820 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Abraxas Petroleum Corporation by 9.0% in the first quarter. Alliancebernstein L.P. now owns 101,900 shares of the energy company’s stock valued at $206,000 after buying an additional 8,400 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Abraxas Petroleum Corporation by 1.2% in the first quarter. California Public Employees Retirement System now owns 1,067,600 shares of the energy company’s stock valued at $2,157,000 after buying an additional 12,200 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Abraxas Petroleum Corporation by 15.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 105,097 shares of the energy company’s stock valued at $212,000 after buying an additional 14,370 shares during the last quarter. Finally, Cadence Capital Management LLC boosted its stake in shares of Abraxas Petroleum Corporation by 4.4% in the first quarter. Cadence Capital Management LLC now owns 382,760 shares of the energy company’s stock valued at $773,000 after buying an additional 16,070 shares during the last quarter. Institutional investors and hedge funds own 43.35% of the company’s stock.

Abraxas Petroleum Corporation (NASDAQ:AXAS) opened at 1.69 on Friday. The stock has a market cap of $274.38 million, a price-to-earnings ratio of 20.12 and a beta of 1.42. Abraxas Petroleum Corporation has a 12-month low of $1.31 and a 12-month high of $2.99. The company has a 50-day moving average price of $1.64 and a 200 day moving average price of $1.93.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last issued its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. Abraxas Petroleum Corporation had a return on equity of 7.68% and a net margin of 18.14%. The firm had revenue of $13.15 million during the quarter, compared to analyst estimates of $16.70 million. On average, equities research analysts predict that Abraxas Petroleum Corporation will post $0.13 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Algert Global LLC Acquires New Position in Abraxas Petroleum Corporation (AXAS)” was originally published by Stock Observer and is the sole property of of Stock Observer. If you are reading this report on another publication, it was copied illegally and republished in violation of international copyright and trademark laws. The legal version of this report can be viewed at https://www.thestockobserver.com/2017/08/12/algert-global-llc-acquires-new-position-in-abraxas-petroleum-corporation-axas.html.

Several analysts have recently issued reports on the company. Seaport Global Securities upgraded Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2.00 to $2.50 in a research note on Friday. Stifel Nicolaus increased their target price on Abraxas Petroleum Corporation from $2.40 to $2.60 and gave the company a “buy” rating in a report on Thursday, May 25th. Zacks Investment Research lowered Abraxas Petroleum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Canaccord Genuity started coverage on Abraxas Petroleum Corporation in a report on Monday, July 24th. They issued a “buy” rating and a $2.50 target price on the stock. Finally, TheStreet raised Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $2.61.

Abraxas Petroleum Corporation 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.

Want to see what other hedge funds are holding AXAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abraxas Petroleum Corporation (NASDAQ:AXAS).

Institutional Ownership by Quarter for Abraxas Petroleum Corporation (NASDAQ:AXAS)

Receive News & Ratings for Abraxas Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abraxas Petroleum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply