Bank of Montreal Can bought a new position in shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 397,333 shares of the energy company’s stock, valued at approximately $1,148,000.

Other institutional investors also recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY bought a new stake in Abraxas Petroleum during the fourth quarter worth approximately $110,000. Sowell Financial Services LLC bought a new stake in Abraxas Petroleum during the first quarter worth approximately $156,000. MetLife Investment Advisors LLC boosted its position in Abraxas Petroleum by 262.8% during the first quarter. MetLife Investment Advisors LLC now owns 83,574 shares of the energy company’s stock worth $186,000 after purchasing an additional 60,535 shares during the period. Monarch Partners Asset Management LLC bought a new stake in Abraxas Petroleum during the first quarter worth approximately $389,000. Finally, Deutsche Bank AG boosted its position in Abraxas Petroleum by 106.4% during the fourth quarter. Deutsche Bank AG now owns 346,269 shares of the energy company’s stock worth $851,000 after purchasing an additional 178,495 shares during the period. 54.93% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on AXAS. TheStreet cut Abraxas Petroleum from a “c” rating to a “d+” rating in a research report on Wednesday, August 8th. BidaskClub cut Abraxas Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 4th. ValuEngine cut Abraxas Petroleum from a “hold” rating to a “sell” rating in a research report on Monday, July 30th. Seaport Global Securities reiterated a “buy” rating on shares of Abraxas Petroleum in a report on Friday, July 20th. Finally, Stifel Nicolaus set a $5.00 price target on Abraxas Petroleum and gave the stock a “buy” rating in a report on Thursday, July 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Abraxas Petroleum presently has an average rating of “Hold” and a consensus target price of $3.56.

Shares of AXAS stock opened at $2.16 on Friday. Abraxas Petroleum Corp. has a 12 month low of $1.59 and a 12 month high of $3.27. The company has a market cap of $371.77 million, a PE ratio of 18.31 and a beta of 1.08. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.39 and a quick ratio of 0.39.

Abraxas Petroleum (NASDAQ:AXAS) last issued its quarterly earnings results on Tuesday, August 7th. The energy company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Abraxas Petroleum had a positive return on equity of 28.33% and a negative net margin of 3.70%. The business had revenue of $30.92 million for the quarter, compared to analyst estimates of $31.93 million. equities analysts anticipate that Abraxas Petroleum Corp. will post 0.3 earnings per share for the current fiscal year.

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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