Wall Street brokerages forecast that Abraxas Petroleum Corp. (NASDAQ:AXAS) will announce earnings per share (EPS) of $0.06 for the current quarter, Zacks reports. Three analysts have made estimates for Abraxas Petroleum’s earnings. The lowest EPS estimate is $0.04 and the highest is $0.11. Abraxas Petroleum reported earnings of $0.04 per share during the same quarter last year, which would indicate a positive year over year growth rate of 50%. The firm is expected to announce its next earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Abraxas Petroleum will report full-year earnings of $0.28 per share for the current year, with EPS estimates ranging from $0.20 to $0.37. For the next fiscal year, analysts anticipate that the company will post earnings of $0.42 per share, with EPS estimates ranging from $0.18 to $0.60. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Abraxas Petroleum.

Abraxas Petroleum (NASDAQ:AXAS) last issued its quarterly earnings data on Tuesday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.03). The firm had revenue of $30.92 million for the quarter, compared to the consensus estimate of $31.93 million. Abraxas Petroleum had a positive return on equity of 28.33% and a negative net margin of 3.70%.

Several brokerages have weighed in on AXAS. ValuEngine cut shares of Abraxas Petroleum from a “hold” rating to a “sell” rating in a research note on Monday, July 30th. TheStreet cut shares of Abraxas Petroleum from a “c” rating to a “d+” rating in a research note on Wednesday, August 8th. BidaskClub cut shares of Abraxas Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 4th. Seaport Global Securities reissued a “buy” rating on shares of Abraxas Petroleum in a research note on Friday, July 20th. Finally, Stifel Nicolaus decreased their price target on shares of Abraxas Petroleum from $4.80 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, May 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $3.56.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXAS. BLB&B Advisors LLC bought a new stake in shares of Abraxas Petroleum during the second quarter valued at approximately $4,457,000. Dimensional Fund Advisors LP grew its stake in shares of Abraxas Petroleum by 56.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,231,327 shares of the energy company’s stock valued at $12,229,000 after purchasing an additional 1,526,579 shares during the last quarter. BlackRock Inc. grew its stake in shares of Abraxas Petroleum by 7.9% during the second quarter. BlackRock Inc. now owns 11,633,452 shares of the energy company’s stock valued at $33,622,000 after purchasing an additional 847,643 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Abraxas Petroleum during the second quarter valued at approximately $2,137,000. Finally, Heartland Advisors Inc. grew its stake in shares of Abraxas Petroleum by 32.2% during the first quarter. Heartland Advisors Inc. now owns 2,199,500 shares of the energy company’s stock valued at $4,883,000 after purchasing an additional 535,300 shares during the last quarter. 54.93% of the stock is currently owned by institutional investors and hedge funds.

Abraxas Petroleum stock traded down $0.01 during trading hours on Friday, hitting $2.16. 765,146 shares of the stock were exchanged, compared to its average volume of 1,410,596. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $371.77 million, a price-to-earnings ratio of 18.00 and a beta of 1.08. Abraxas Petroleum has a 12 month low of $1.59 and a 12 month high of $3.27.

Abraxas Petroleum Company Profile

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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