Abraxas Petroleum Corp. (AXAS) Given Consensus Recommendation of “Hold” by Analysts

Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) have been given an average recommendation of “Hold” by the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $3.63.

A number of research analysts have recently commented on AXAS shares. Canaccord Genuity reissued a “buy” rating and issued a $3.50 target price on shares of Abraxas Petroleum in a report on Tuesday, August 28th. Zacks Investment Research raised shares of Abraxas Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. BidaskClub cut shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 6th. ValuEngine cut shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. Finally, Stephens started coverage on shares of Abraxas Petroleum in a report on Thursday. They issued a “weight” rating and a $3.00 target price for the company.

AXAS stock opened at $1.56 on Friday. The stock has a market capitalization of $281.56 million, a PE ratio of 13.00 and a beta of 1.10. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.49 and a quick ratio of 0.49. Abraxas Petroleum has a 12 month low of $1.53 and a 12 month high of $3.27.

Abraxas Petroleum (NASDAQ:AXAS) last posted its earnings results on Wednesday, November 7th. The energy company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $41.63 million during the quarter, compared to analysts’ expectations of $33.37 million. Abraxas Petroleum had a negative net margin of 1.48% and a positive return on equity of 30.57%. As a group, analysts anticipate that Abraxas Petroleum will post 0.25 EPS for the current year.

Several hedge funds have recently bought and sold shares of AXAS. Strs Ohio bought a new position in Abraxas Petroleum in the 2nd quarter valued at approximately $511,000. Schwab Charles Investment Management Inc. raised its holdings in Abraxas Petroleum by 65.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 717,032 shares of the energy company’s stock valued at $2,073,000 after buying an additional 284,577 shares during the last quarter. Globeflex Capital L P raised its holdings in Abraxas Petroleum by 13.9% in the 2nd quarter. Globeflex Capital L P now owns 258,300 shares of the energy company’s stock valued at $746,000 after buying an additional 31,600 shares during the last quarter. Bank of Montreal Can bought a new position in Abraxas Petroleum in the 2nd quarter valued at approximately $1,148,000. Finally, BlackRock Inc. raised its holdings in Abraxas Petroleum by 7.9% in the 2nd quarter. BlackRock Inc. now owns 11,633,452 shares of the energy company’s stock valued at $33,622,000 after buying an additional 847,643 shares during the last quarter. 58.57% of the stock is owned by hedge funds and other institutional investors.

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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