Abraxas Petroleum (AXAS) Reaches New 1-Year Low at $1.70

Abraxas Petroleum Corp. (NASDAQ:AXAS) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $1.70 and last traded at $1.75, with a volume of 59040 shares changing hands. The stock had previously closed at $1.82.

A number of brokerages have recently issued reports on AXAS. ValuEngine downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. BidaskClub downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a report on Tuesday. TheStreet downgraded Abraxas Petroleum from a “c” rating to a “d+” rating in a report on Wednesday, August 8th. Seaport Global Securities reiterated a “buy” rating on shares of Abraxas Petroleum in a research report on Friday, July 20th. Finally, Stifel Nicolaus set a $5.00 price objective on Abraxas Petroleum and gave the company a “buy” rating in a research report on Thursday, July 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $3.83.

The stock has a market cap of $300.08 million, a P/E ratio of 14.58 and a beta of 1.22. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 1.07.

Abraxas Petroleum (NASDAQ:AXAS) last posted its quarterly earnings data on Wednesday, November 7th. The energy company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $41.63 million during the quarter, compared to analysts’ expectations of $33.37 million. Abraxas Petroleum had a positive return on equity of 28.33% and a negative net margin of 3.70%. On average, analysts expect that Abraxas Petroleum Corp. will post 0.25 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Zebra Capital Management LLC purchased a new stake in Abraxas Petroleum during the second quarter valued at $130,000. Salem Investment Counselors Inc. purchased a new stake in Abraxas Petroleum during the second quarter valued at $154,000. Cubist Systematic Strategies LLC increased its position in Abraxas Petroleum by 301.5% during the second quarter. Cubist Systematic Strategies LLC now owns 56,052 shares of the energy company’s stock valued at $162,000 after acquiring an additional 42,090 shares during the last quarter. Bank of America Corp DE increased its position in Abraxas Petroleum by 99.1% during the second quarter. Bank of America Corp DE now owns 79,151 shares of the energy company’s stock valued at $228,000 after acquiring an additional 39,393 shares during the last quarter. Finally, LSV Asset Management purchased a new stake in Abraxas Petroleum during the second quarter valued at $240,000. Institutional investors own 59.99% of the company’s stock.

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Abraxas Petroleum Company Profile (NASDAQ:AXAS)

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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