Abraxas Petroleum (NASDAQ:AXAS) Stock Price Down 3.4%

Abraxas Petroleum Corp. (NASDAQ:AXAS)’s share price traded down 3.4% during mid-day trading on Friday . The company traded as low as $0.32 and last traded at $0.32, 1,203,264 shares changed hands during mid-day trading. A decline of 34% from the average session volume of 1,814,069 shares. The stock had previously closed at $0.34.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Abraxas Petroleum from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 29th. ValuEngine raised Abraxas Petroleum from a “strong sell” rating to a “sell” rating in a research report on Friday, January 3rd. Seaport Global Securities lowered Abraxas Petroleum from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Finally, Johnson Rice lowered Abraxas Petroleum from a “buy” rating to an “accumulate” rating in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Abraxas Petroleum presently has a consensus rating of “Hold” and an average target price of $1.00.

The stock has a 50-day moving average of $0.33 and a 200-day moving average of $0.50. The firm has a market cap of $56.62 million, a price-to-earnings ratio of 1.81 and a beta of 1.77. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.74.

Abraxas Petroleum (NASDAQ:AXAS) last announced its earnings results on Wednesday, November 13th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). The firm had revenue of $31.54 million during the quarter, compared to analyst estimates of $34.15 million. Abraxas Petroleum had a net margin of 43.17% and a return on equity of 9.26%. Sell-side analysts predict that Abraxas Petroleum Corp. will post 0.08 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of AXAS. Sigma Planning Corp grew its stake in Abraxas Petroleum by 25.4% in the third quarter. Sigma Planning Corp now owns 907,900 shares of the energy company’s stock valued at $461,000 after purchasing an additional 184,000 shares in the last quarter. State Street Corp grew its stake in Abraxas Petroleum by 6.6% in the third quarter. State Street Corp now owns 2,902,957 shares of the energy company’s stock valued at $1,473,000 after purchasing an additional 178,655 shares in the last quarter. CWM LLC grew its stake in Abraxas Petroleum by 59.7% in the third quarter. CWM LLC now owns 420,266 shares of the energy company’s stock valued at $213,000 after purchasing an additional 157,152 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Abraxas Petroleum in the third quarter valued at approximately $61,000. Finally, BlackRock Inc. grew its stake in Abraxas Petroleum by 1.0% in the second quarter. BlackRock Inc. now owns 11,604,693 shares of the energy company’s stock valued at $11,953,000 after purchasing an additional 112,823 shares in the last quarter. Hedge funds and other institutional investors own 45.75% of the company’s stock.

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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