Abraxas Petroleum (NASDAQ:AXAS) posted its earnings results on Wednesday. The energy company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02), Morningstar.com reports. The company had revenue of $36.00 million during the quarter, compared to the consensus estimate of $32.13 million. Abraxas Petroleum had a positive return on equity of 30.57% and a negative net margin of 1.48%.
AXAS stock opened at $1.28 on Friday. The stock has a market capitalization of $223.24 million, a PE ratio of 10.67 and a beta of 1.51. 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 $0.90 and a 12 month high of $3.27.
A number of research firms have recently commented on AXAS. Zacks Investment Research raised shares of Abraxas Petroleum from a “sell” rating to a “hold” rating in a report on Monday, January 21st. Stephens began coverage on shares of Abraxas Petroleum in a report on Thursday, December 6th. They issued a “weight” rating and a $3.00 target price for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Abraxas Petroleum currently has an average rating of “Hold” and an average target price of $3.83.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Abraxas Petroleum by 1.3% in the 3rd quarter. BlackRock Inc. now owns 11,784,472 shares of the energy company’s stock valued at $27,458,000 after buying an additional 151,020 shares during the last quarter. Vanguard Group Inc. raised its holdings in Abraxas Petroleum by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,477,204 shares of the energy company’s stock valued at $19,753,000 after buying an additional 63,202 shares during the last quarter. Vanguard Group Inc raised its holdings in Abraxas Petroleum by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 8,477,204 shares of the energy company’s stock valued at $19,753,000 after buying an additional 63,202 shares during the last quarter. Portolan Capital Management LLC raised its holdings in Abraxas Petroleum by 38.2% in the 4th quarter. Portolan Capital Management LLC now owns 6,804,579 shares of the energy company’s stock valued at $7,417,000 after buying an additional 1,881,556 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Abraxas Petroleum by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,554,853 shares of the energy company’s stock valued at $6,055,000 after buying an additional 253,765 shares during the last quarter. Institutional investors and hedge funds own 55.66% of the company’s stock.
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About Abraxas Petroleum
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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