Wall Street brokerages forecast that Abraxas Petroleum Corp. (NASDAQ:AXAS) will report earnings of $0.08 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Abraxas Petroleum’s earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.05. Abraxas Petroleum reported earnings of $0.02 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 300%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that Abraxas Petroleum will report full-year earnings of $0.18 per share for the current financial year, with EPS estimates ranging from $0.16 to $0.20. For the next year, analysts anticipate that the company will report earnings of $0.27 per share, with EPS estimates ranging from $0.07 to $0.49. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Abraxas Petroleum.

Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings data on Monday, May 6th. The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $34.51 million during 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%.

Several research firms have recently weighed in on AXAS. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Monday, July 8th. ValuEngine downgraded China Southern Airlines from a “hold” rating to a “sell” rating in a report on Monday, April 29th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of W&T Offshore in a report on Friday, June 21st. Three research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $3.83.

Shares of NASDAQ AXAS traded down $0.02 during midday trading on Friday, hitting $0.95. The stock had a trading volume of 5,013 shares, compared to its average volume of 805,307. The company has a market cap of $162.97 million, a P/E ratio of 5.34 and a beta of 1.72. Abraxas Petroleum has a 1-year low of $0.90 and a 1-year high of $2.93. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 1.28. The business has a fifty day moving average of $1.05.

Large investors have recently made changes to their positions in the stock. Amalgamated Bank purchased a new stake in shares of Abraxas Petroleum during the 4th quarter valued at about $26,000. Prudential Financial Inc. raised its holdings in shares of Abraxas Petroleum by 96.2% during the 4th quarter. Prudential Financial Inc. now owns 24,021 shares of the energy company’s stock valued at $26,000 after buying an additional 11,776 shares during the period. Mckinley Capital Management LLC Delaware raised its holdings in shares of Abraxas Petroleum by 108.4% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 20,915 shares of the energy company’s stock valued at $27,000 after buying an additional 10,877 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Abraxas Petroleum by 57,277.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 33,279 shares of the energy company’s stock valued at $42,000 after buying an additional 33,221 shares during the period. Finally, HRT Financial LLC purchased a new stake in shares of Abraxas Petroleum during the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 52.69% of the company’s stock.

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.

Featured Article: What is dollar cost averaging (DCA)?

Get a free copy of the Zacks research report on Abraxas Petroleum (AXAS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Abraxas Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abraxas Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.