Abraxas Petroleum (AXAS) Hits New 1-Year Low at $1.57

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. The stock had previously closed at $1.69.

A number of research firms have recently commented on AXAS. 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. TheStreet cut shares of Abraxas Petroleum from a “c” rating to a “d+” rating in a report on Wednesday, August 8th. ValuEngine cut shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. BidaskClub cut shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 6th. Finally, Stephens began 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. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Abraxas Petroleum has a consensus rating of “Hold” and an average target price of $3.63.

The firm has a market cap of $281.56 million, a PE ratio of 13.00 and a beta of 1.10. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35.



Abraxas Petroleum (NASDAQ:AXAS) last issued its quarterly earnings data on Wednesday, November 7th. The energy company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $41.63 million during the quarter, compared to analyst estimates of $33.37 million. Abraxas Petroleum had a negative net margin of 1.48% and a positive return on equity of 30.57%. Equities analysts expect that Abraxas Petroleum Corp. will post 0.25 earnings per share for the current year.

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. Dimensional Fund Advisors LP raised its holdings in Abraxas Petroleum by 25.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,301,088 shares of the energy company’s stock valued at $12,351,000 after buying an additional 1,069,761 shares during the last quarter. Heartland Advisors Inc. raised its holdings in Abraxas Petroleum by 2.7% during the 3rd quarter. Heartland Advisors Inc. now owns 2,418,300 shares of the energy company’s stock worth $5,635,000 after purchasing an additional 62,500 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Abraxas Petroleum by 8.0% during the 2nd quarter. Northern Trust Corp now owns 2,229,415 shares of the energy company’s stock worth $6,444,000 after purchasing an additional 165,468 shares during the last quarter. Institutional investors and hedge funds own 58.57% 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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