Argent Capital Management LLC lessened its stake in Abraxas Petroleum Corp. (NASDAQ:AXAS) by 3.8% during the first quarter, Holdings Channel reports. The firm owned 1,247,715 shares of the energy company’s stock after selling 48,700 shares during the period. Argent Capital Management LLC’s holdings in Abraxas Petroleum were worth $1,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware boosted its holdings in shares of Abraxas Petroleum by 108.4% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 20,915 shares of the energy company’s stock valued at $27,000 after purchasing an additional 10,877 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Abraxas Petroleum in the 4th quarter valued at $26,000. Prudential Financial Inc. boosted its holdings in shares of Abraxas Petroleum by 96.2% in the 4th quarter. Prudential Financial Inc. now owns 24,021 shares of the energy company’s stock valued at $26,000 after purchasing an additional 11,776 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Abraxas Petroleum by 57,277.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 33,279 shares of the energy company’s stock valued at $42,000 after purchasing an additional 33,221 shares during the last quarter. Finally, HRT Financial LLC acquired a new position in shares of Abraxas Petroleum in the 4th quarter valued at $48,000. Institutional investors own 52.66% of the company’s stock.

NASDAQ:AXAS opened at $1.02 on Tuesday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 1.28. The firm has a market cap of $168.10 million, a P/E ratio of 5.67 and a beta of 1.78. Abraxas Petroleum Corp. has a twelve month low of $0.90 and a twelve month high of $3.23.

Abraxas Petroleum (NASDAQ:AXAS) last posted its earnings results on Monday, May 6th. The energy company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The business had revenue of $34.51 million for the quarter, compared to analyst estimates of $31.65 million. Abraxas Petroleum had a net margin of 15.09% and a return on equity of 14.05%. Sell-side analysts forecast that Abraxas Petroleum Corp. will post 0.24 EPS for the current year.

A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Abraxas Petroleum from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. ValuEngine upgraded shares of Abraxas Petroleum from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 9th. Finally, TheStreet upgraded shares of Abraxas Petroleum from a “d+” rating to a “c” rating in a report on Thursday, March 14th. Three analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Abraxas Petroleum has a consensus rating of “Hold” and a consensus target price of $3.83.

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

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