Abraxas Petroleum (NASDAQ:AXAS) Trading 5.6% Higher

Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) traded up 5.6% during trading on Tuesday . The stock traded as high as $0.35 and last traded at $0.34, 1,629,972 shares were traded during mid-day trading. An increase of 49% from the average session volume of 1,094,434 shares. The stock had previously closed at $0.32.

Several equities analysts have commented on the stock. ValuEngine raised shares of Abraxas Petroleum from a “strong sell” rating to a “sell” rating in a research report on Friday, October 4th. LADENBURG THALM/SH SH cut shares of Abraxas Petroleum from a “buy” rating to a “neutral” rating and decreased their price target for the company from $2.00 to $1.00 in a research report on Monday, August 26th. Zacks Investment Research raised shares of Abraxas Petroleum from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Finally, Seaport Global Securities cut shares of Abraxas Petroleum from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Abraxas Petroleum has an average rating of “Hold” and a consensus price target of $2.00.

The firm has a market capitalization of $56.94 million, a PE ratio of 1.83 and a beta of 1.72. The company’s 50-day moving average price is $0.46 and its 200-day moving average price is $0.88. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.47 and a current ratio of 0.47.

Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.02). The firm had revenue of $34.82 million for the quarter, compared to analysts’ expectations of $33.00 million. Abraxas Petroleum had a return on equity of 13.62% and a net margin of 29.82%. As a group, analysts anticipate that Abraxas Petroleum Corp. will post 0.11 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Abraxas Petroleum by 1.0% during the 2nd quarter. BlackRock Inc. now owns 11,604,693 shares of the energy company’s stock worth $11,953,000 after purchasing an additional 112,823 shares during the last quarter. Heartland Advisors Inc. lifted its position in shares of Abraxas Petroleum by 47.8% during the 2nd quarter. Heartland Advisors Inc. now owns 3,555,200 shares of the energy company’s stock worth $3,662,000 after purchasing an additional 1,150,200 shares during the last quarter. Northern Trust Corp lifted its position in shares of Abraxas Petroleum by 1.5% during the 2nd quarter. Northern Trust Corp now owns 2,349,248 shares of the energy company’s stock worth $2,420,000 after purchasing an additional 35,189 shares during the last quarter. Sigma Planning Corp lifted its position in shares of Abraxas Petroleum by 9.5% during the 2nd quarter. Sigma Planning Corp now owns 723,900 shares of the energy company’s stock worth $746,000 after purchasing an additional 63,000 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of Abraxas Petroleum by 13.6% during the 2nd quarter. LSV Asset Management now owns 703,300 shares of the energy company’s stock worth $724,000 after purchasing an additional 84,200 shares during the last quarter. 51.28% of the stock is owned by institutional investors and hedge funds.

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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