Analysts expect that Abraxas Petroleum Corporation (NASDAQ:AXAS) will post sales of $24.50 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Abraxas Petroleum Corporation’s earnings, with estimates ranging from $23.80 million to $25.20 million. Abraxas Petroleum Corporation reported sales of $13.98 million in the same quarter last year, which would suggest a positive year over year growth rate of 75.3%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 14th.

According to Zacks, analysts expect that Abraxas Petroleum Corporation will report full year sales of $24.50 million for the current financial year, with estimates ranging from $85.40 million to $88.30 million. For the next fiscal year, analysts expect that the firm will report sales of $127.43 million per share, with estimates ranging from $87.90 million to $161.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Abraxas Petroleum Corporation.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last announced its quarterly earnings results on Tuesday, August 8th. The energy company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Abraxas Petroleum Corporation had a net margin of 18.14% and a return on equity of 7.68%. The business had revenue of $13.15 million for the quarter, compared to analyst estimates of $16.70 million.

Several research analysts have weighed in on the company. Seaport Global Securities cut Abraxas Petroleum Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $3.25 to $2.00 in a research report on Wednesday, June 21st. Zacks Investment Research cut Abraxas Petroleum Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. TheStreet raised Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a research report on Tuesday, August 8th. BidaskClub cut Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $2.20 price objective on shares of Abraxas Petroleum Corporation in a research report on Sunday, September 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $2.58.

Shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) traded up 3.80% during midday trading on Wednesday, reaching $1.91. The company’s stock had a trading volume of 1,208,133 shares. The firm has a 50-day moving average of $1.69 and a 200-day moving average of $1.80. The stock has a market cap of $310.10 million, a PE ratio of 22.74 and a beta of 1.48. Abraxas Petroleum Corporation has a one year low of $1.45 and a one year high of $2.99.

Several hedge funds and other institutional investors have recently modified their holdings of AXAS. Acadian Asset Management LLC purchased a new position in shares of Abraxas Petroleum Corporation during the 2nd quarter valued at $109,000. Susquehanna International Group LLP lifted its position in shares of Abraxas Petroleum Corporation by 73.0% during the 2nd quarter. Susquehanna International Group LLP now owns 67,792 shares of the energy company’s stock valued at $110,000 after buying an additional 28,606 shares during the last quarter. Croft Leominster Inc. purchased a new position in shares of Abraxas Petroleum Corporation during the 1st quarter valued at $143,000. Voya Investment Management LLC lifted its position in shares of Abraxas Petroleum Corporation by 24.5% during the 2nd quarter. Voya Investment Management LLC now owns 73,546 shares of the energy company’s stock valued at $119,000 after buying an additional 14,483 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its position in shares of Abraxas Petroleum Corporation by 92.2% during the 1st quarter. Tudor Investment Corp ET AL now owns 79,586 shares of the energy company’s stock valued at $161,000 after buying an additional 38,179 shares during the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

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Abraxas Petroleum Corporation Company Profile

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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Earnings History and Estimates for Abraxas Petroleum Corporation (NASDAQ:AXAS)

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