Shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) have been given a consensus rating of “Buy” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $2.25.

AXAS has been the topic of several research analyst reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Abraxas Petroleum Corporation in a report on Friday, September 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $2.20 price target on shares of Abraxas Petroleum Corporation in a report on Sunday, September 3rd. Zacks Investment Research raised shares of Abraxas Petroleum Corporation from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a report on Wednesday, October 11th. BidaskClub cut shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, TheStreet raised shares of Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a report on Tuesday, August 8th.

Shares of Abraxas Petroleum Corporation (AXAS) traded up $0.05 during mid-day trading on Thursday, reaching $2.23. 1,429,758 shares of the company’s stock were exchanged, compared to its average volume of 1,071,843. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.47 and a quick ratio of 0.47. Abraxas Petroleum Corporation has a 1-year low of $1.45 and a 1-year high of $2.99. The company has a market cap of $365.39, a PE ratio of 74.33 and a beta of 1.44.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last issued its earnings results on Tuesday, August 8th. The energy company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $13.15 million for the quarter, compared to the consensus estimate of $16.70 million. Abraxas Petroleum Corporation had a net margin of 18.14% and a return on equity of 7.68%. analysts forecast that Abraxas Petroleum Corporation will post 0.16 EPS for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Abraxas Petroleum Corporation by 15.3% in the second quarter. Vanguard Group Inc. now owns 8,322,387 shares of the energy company’s stock worth $13,483,000 after purchasing an additional 1,106,142 shares during the period. Formula Growth Ltd. grew its position in Abraxas Petroleum Corporation by 19.1% in the second quarter. Formula Growth Ltd. now owns 3,464,682 shares of the energy company’s stock worth $5,613,000 after acquiring an additional 554,593 shares in the last quarter. State Street Corp grew its position in Abraxas Petroleum Corporation by 12.1% in the second quarter. State Street Corp now owns 2,550,295 shares of the energy company’s stock worth $4,133,000 after acquiring an additional 274,421 shares in the last quarter. Northern Trust Corp grew its position in Abraxas Petroleum Corporation by 8.2% in the second quarter. Northern Trust Corp now owns 2,114,272 shares of the energy company’s stock worth $3,425,000 after acquiring an additional 160,223 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in Abraxas Petroleum Corporation in the first quarter worth $3,735,000. 43.35% of the stock is currently owned by hedge funds and other institutional investors.

About Abraxas Petroleum Corporation

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.

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