Abraxas Petroleum Corp. (NASDAQ:AXAS) shares reached a new 52-week low during trading on Thursday . The company traded as low as $1.57 and last traded at $1.57, with a volume of 60145 shares trading hands. The stock had previously closed at $1.69.
AXAS has been the subject of a number of analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $3.50 price target on shares of Abraxas Petroleum in a research note on Tuesday, August 28th. BidaskClub downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 6th. ValuEngine downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. Stephens initiated coverage on Abraxas Petroleum in a research note on Thursday. They issued a “weight” rating and a $3.00 price target for the company. Finally, Zacks Investment Research raised Abraxas Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, November 27th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Abraxas Petroleum has an average rating of “Hold” and an average price target of $3.63.
The company has a market cap of $259.90 million, a P/E ratio of 12.92 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 (NASDAQ:AXAS) last posted its quarterly earnings results on Wednesday, November 7th. The energy company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. Abraxas Petroleum had a positive return on equity of 30.57% and a negative net margin of 1.48%. The business had revenue of $41.63 million during the quarter, compared to the consensus estimate of $33.37 million. Equities research analysts predict that Abraxas Petroleum Corp. will post 0.25 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in AXAS. Dimensional Fund Advisors LP grew its position in Abraxas Petroleum by 56.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,231,327 shares of the energy company’s stock valued at $12,229,000 after acquiring an additional 1,526,579 shares during the last quarter. BlackRock Inc. grew its position in Abraxas Petroleum by 7.9% in the second quarter. BlackRock Inc. now owns 11,633,452 shares of the energy company’s stock valued at $33,622,000 after acquiring an additional 847,643 shares during the last quarter. LSV Asset Management grew its position in Abraxas Petroleum by 902.9% in the third quarter. LSV Asset Management now owns 833,400 shares of the energy company’s stock valued at $1,941,000 after acquiring an additional 750,300 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in Abraxas Petroleum in the second quarter valued at about $1,445,000. Finally, Walthausen & Co. LLC bought a new position in Abraxas Petroleum in the third quarter valued at about $1,082,000. Hedge funds and other institutional investors own 58.57% of the company’s stock.
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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