Equities researchers at Stephens began coverage on shares of Abraxas Petroleum (NASDAQ:AXAS) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “weight” rating and a $3.00 price target on the energy company’s stock. Stephens’ target price points to a potential upside of 93.55% from the stock’s current price.

Several other equities analysts also recently commented on AXAS. Zacks Investment Research upgraded Abraxas Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, November 27th. ValuEngine downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. TheStreet downgraded Abraxas Petroleum from a “c” rating to a “d+” rating in a research report on Wednesday, August 8th. BidaskClub downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 6th. Finally, Canaccord Genuity restated a “buy” rating and issued a $3.50 price objective on shares of Abraxas Petroleum in a research report on Tuesday, August 28th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $3.63.

Shares of Abraxas Petroleum stock opened at $1.55 on Thursday. Abraxas Petroleum has a 52 week low of $1.53 and a 52 week high of $3.27. The stock has a market capitalization of $259.90 million, a PE ratio of 7.80 and a beta of 1.10. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35.

Abraxas Petroleum (NASDAQ:AXAS) last announced its quarterly earnings data on Wednesday, November 7th. The energy company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. Abraxas Petroleum had a positive return on equity of 30.57% and a negative net margin of 1.48%. The business had revenue of $41.63 million for the quarter, compared to the consensus estimate of $33.37 million. On average, equities research analysts anticipate that Abraxas Petroleum will post 0.25 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of AXAS. Bank of Montreal Can bought a new stake in shares of Abraxas Petroleum in the second quarter worth about $1,148,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Abraxas Petroleum by 57.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 519,239 shares of the energy company’s stock worth $1,501,000 after purchasing an additional 189,255 shares during the last quarter. Wasatch Advisors Inc. increased its holdings in shares of Abraxas Petroleum by 13.9% in the second quarter. Wasatch Advisors Inc. now owns 1,193,958 shares of the energy company’s stock worth $3,451,000 after purchasing an additional 145,761 shares during the last quarter. EAM Investors LLC bought a new stake in shares of Abraxas Petroleum in the second quarter worth about $965,000. Finally, EAM Global Investors LLC bought a new stake in shares of Abraxas Petroleum in the second quarter worth about $1,216,000. 58.57% of the stock is currently owned by hedge funds and other institutional investors.

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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