Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) have earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $2.00.
A number of brokerages have issued reports on AXAS. Seaport Global Securities reissued a “buy” rating on shares of Abraxas Petroleum in a report on Friday, June 21st. LADENBURG THALM/SH SH cut Abraxas Petroleum from a “buy” rating to a “neutral” rating and reduced their price target for the company from $2.00 to $1.00 in a report on Monday, August 26th. Finally, Zacks Investment Research raised Abraxas Petroleum from a “sell” rating to a “hold” rating in a report on Monday, August 12th.
Several institutional investors and hedge funds have recently bought and sold shares of AXAS. Hodges Capital Management Inc. purchased a new position in Abraxas Petroleum during the second quarter worth $104,000. Susquehanna International Group LLP acquired a new stake in Abraxas Petroleum in the second quarter worth approximately $67,000. Morgan Stanley lifted its position in Abraxas Petroleum by 52.8% in the second quarter. Morgan Stanley now owns 74,752 shares of the energy company’s stock worth $77,000 after purchasing an additional 25,817 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in Abraxas Petroleum in the second quarter worth approximately $40,000. Finally, BlackRock Inc. lifted its position in Abraxas Petroleum by 1.0% in the second quarter. BlackRock Inc. now owns 11,604,693 shares of the energy company’s stock worth $11,953,000 after purchasing an additional 112,823 shares during the period. 51.38% of the stock is owned by institutional investors and hedge funds.
NASDAQ AXAS traded up $0.02 on Friday, hitting $0.54. 1,004,200 shares of the company were exchanged, compared to its average volume of 1,045,643. The company has a market cap of $92.99 million, a PE ratio of 3.00 and a beta of 1.73. Abraxas Petroleum has a 12 month low of $0.43 and a 12 month high of $2.57. The stock has a fifty day moving average of $0.62 and a 200-day moving average of $1.06. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.21.
Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Abraxas Petroleum had a net margin of 29.82% and a return on equity of 13.62%. The firm had revenue of $34.82 million for the quarter, compared to the consensus estimate of $33.00 million. On average, analysts expect that Abraxas Petroleum will post 0.15 earnings per share for the current year.
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.
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