Abraxas Petroleum (AXAS) Trading Down 6.7%

Abraxas Petroleum Corp. (NASDAQ:AXAS)’s share price fell 6.7% on Thursday . The stock traded as low as $1.40 and last traded at $1.40. 941,947 shares were traded during mid-day trading, a decline of 10% from the average session volume of 1,048,086 shares. The stock had previously closed at $1.50.

Several research firms have weighed in on AXAS. ValuEngine upgraded shares of Abraxas Petroleum from a “strong sell” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research lowered shares of Abraxas Petroleum from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. Finally, TheStreet upgraded shares of Abraxas Petroleum from a “d+” rating to a “c” rating in a report on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Abraxas Petroleum has an average rating of “Hold” and a consensus target price of $3.83.

The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.10. The firm has a market cap of $250.71 million, a price-to-earnings ratio of 7.78 and a beta of 1.51.

Abraxas Petroleum (NASDAQ:AXAS) last issued its quarterly earnings data on Wednesday, March 13th. The energy company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Abraxas Petroleum had a return on equity of 24.46% and a net margin of 38.76%. The company had revenue of $36.00 million during the quarter, compared to analyst estimates of $32.13 million. On average, research analysts expect that Abraxas Petroleum Corp. will post 0.24 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Inspirion Wealth Advisors LLC lifted its holdings in shares of Abraxas Petroleum by 23.6% in the 4th quarter. Inspirion Wealth Advisors LLC now owns 51,020 shares of the energy company’s stock worth $56,000 after acquiring an additional 9,750 shares during the last quarter. Mycio Wealth Partners LLC lifted its holdings in shares of Abraxas Petroleum by 17.0% in the 4th quarter. Mycio Wealth Partners LLC now owns 75,686 shares of the energy company’s stock worth $82,000 after acquiring an additional 11,000 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Abraxas Petroleum by 96.2% in the 4th quarter. Prudential Financial Inc. now owns 24,021 shares of the energy company’s stock worth $26,000 after acquiring an additional 11,776 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Abraxas Petroleum by 25.4% in the 4th quarter. Citigroup Inc. now owns 101,856 shares of the energy company’s stock worth $111,000 after acquiring an additional 20,647 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Abraxas Petroleum in the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 55.56% of the company’s stock.

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About Abraxas Petroleum (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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