Abraxas Petroleum (NASDAQ:AXAS) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday.
AXAS has been the topic of several other reports. Stifel Nicolaus reiterated a “buy” rating and issued a $3.70 price objective (up from $3.20) on shares of Abraxas Petroleum in a research report on Wednesday, March 14th. BidaskClub upgraded shares of Abraxas Petroleum from a “hold” rating to a “buy” rating in a research report on Friday, April 13th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $4.00 price objective on shares of Abraxas Petroleum in a research report on Tuesday, March 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Abraxas Petroleum has a consensus rating of “Buy” and an average target price of $3.29.
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Abraxas Petroleum opened at $2.85 on Monday, MarketBeat.com reports. Abraxas Petroleum has a 52 week low of $1.51 and a 52 week high of $3.27. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $481.39 million, a P/E ratio of 23.75 and a beta of 1.24.
Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings data on Tuesday, May 8th. The energy company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Abraxas Petroleum had a net margin of 12.11% and a return on equity of 27.50%. The business had revenue of $40.63 million for the quarter, compared to analyst estimates of $39.00 million. analysts forecast that Abraxas Petroleum will post 0.36 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC increased its stake in shares of Abraxas Petroleum by 159.8% during the 4th quarter. Citadel Advisors LLC now owns 51,969 shares of the energy company’s stock valued at $128,000 after acquiring an additional 31,969 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of Abraxas Petroleum during the 4th quarter valued at about $110,000. Sowell Financial Services LLC acquired a new position in shares of Abraxas Petroleum during the 1st quarter valued at about $156,000. Wells Fargo & Company MN increased its stake in shares of Abraxas Petroleum by 12.3% during the 1st quarter. Wells Fargo & Company MN now owns 501,393 shares of the energy company’s stock valued at $1,113,000 after acquiring an additional 54,905 shares during the last quarter. Finally, MetLife Investment Advisors LLC increased its stake in shares of Abraxas Petroleum by 262.8% during the 1st quarter. MetLife Investment Advisors LLC now owns 83,574 shares of the energy company’s stock valued at $186,000 after acquiring an additional 60,535 shares during the last quarter. 52.83% of the stock is owned by hedge funds and other institutional investors.
About Abraxas Petroleum
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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