Abraxas Petroleum Corporation (AXAS) Shares Bought by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC raised its position in shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) by 114.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,184,780 shares of the energy company’s stock after acquiring an additional 632,370 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.73% of Abraxas Petroleum Corporation worth $1,919,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Alliancebernstein L.P. raised its holdings in shares of Abraxas Petroleum Corporation by 9.0% during the first quarter. Alliancebernstein L.P. now owns 101,900 shares of the energy company’s stock valued at $206,000 after acquiring an additional 8,400 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Abraxas Petroleum Corporation by 6.1% during the second quarter. Rhumbline Advisers now owns 162,768 shares of the energy company’s stock valued at $264,000 after acquiring an additional 9,300 shares during the last quarter. Smith Asset Management Group LP raised its holdings in shares of Abraxas Petroleum Corporation by 1.8% during the second quarter. Smith Asset Management Group LP now owns 586,050 shares of the energy company’s stock valued at $949,000 after acquiring an additional 10,230 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Abraxas Petroleum Corporation by 1.2% during the first quarter. California Public Employees Retirement System now owns 1,067,600 shares of the energy company’s stock valued at $2,157,000 after acquiring an additional 12,200 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of Abraxas Petroleum Corporation by 15.8% during the first quarter. Metropolitan Life Insurance Co. NY now owns 105,097 shares of the energy company’s stock valued at $212,000 after acquiring an additional 14,370 shares during the last quarter. 43.35% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on AXAS shares. Zacks Investment Research raised Abraxas Petroleum Corporation from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a report on Wednesday, October 11th. Stifel Nicolaus set a $2.00 price target on Abraxas Petroleum Corporation and gave the company a “buy” rating in a report on Thursday, October 5th. Canaccord Genuity reaffirmed a “buy” rating on shares of Abraxas Petroleum Corporation in a report on Friday, September 8th. Seaport Global Securities raised Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and increased their price target for the company from $2.00 to $2.50 in a report on Friday, August 11th. Finally, TheStreet raised Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $2.31.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last announced its quarterly earnings results on Tuesday, August 8th. The energy company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). Abraxas Petroleum Corporation had a return on equity of 7.68% and a net margin of 18.14%. The firm had revenue of $13.15 million for the quarter, compared to analysts’ expectations of $16.70 million.

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Abraxas Petroleum Corporation Profile

Abraxas Petroleum Corporation is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas. As of December 31, 2016, the Company’s estimated net proved reserves were 44.7 million barrels of oil equivalent (MMBoe), of which 33.6% were classified as proved developed, 74% were oil and natural gas liquids (NGL), and 95% of which (on a PV-10 basis) were operated by the Company.

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Institutional Ownership by Quarter for Abraxas Petroleum Corporation (NASDAQ:AXAS)

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