First Quadrant L P CA Purchases 267,300 Shares of Abraxas Petroleum Corporation (AXAS)

First Quadrant L P CA lifted its position in shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) by 285.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 360,891 shares of the energy company’s stock after buying an additional 267,300 shares during the quarter. First Quadrant L P CA owned approximately 0.22% of Abraxas Petroleum Corporation worth $678,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nationwide Fund Advisors grew its holdings in shares of Abraxas Petroleum Corporation by 21.8% during the third quarter. Nationwide Fund Advisors now owns 1,043,035 shares of the energy company’s stock worth $1,961,000 after buying an additional 186,680 shares in the last quarter. Susquehanna International Group LLP grew its holdings in shares of Abraxas Petroleum Corporation by 73.0% during the second quarter. Susquehanna International Group LLP now owns 67,792 shares of the energy company’s stock worth $110,000 after buying an additional 28,606 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Abraxas Petroleum Corporation by 31.6% during the second quarter. The Manufacturers Life Insurance Company now owns 134,239 shares of the energy company’s stock worth $217,000 after buying an additional 32,205 shares in the last quarter. State Street Corp grew its holdings in shares of Abraxas Petroleum Corporation by 12.1% during the second quarter. State Street Corp now owns 2,550,295 shares of the energy company’s stock worth $4,133,000 after buying an additional 274,421 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Abraxas Petroleum Corporation by 5.6% during the second quarter. Goldman Sachs Group Inc. now owns 382,708 shares of the energy company’s stock worth $620,000 after buying an additional 20,261 shares in the last quarter. Institutional investors and hedge funds own 43.35% of the company’s stock.

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AXAS has been the subject of a number of recent analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $2.40 target price on shares of Abraxas Petroleum Corporation in a report on Friday, July 14th. Canaccord Genuity initiated coverage on shares of Abraxas Petroleum Corporation in a report on Monday, July 24th. They issued a “buy” rating and a $2.50 target price for the company. Zacks Investment Research downgraded shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. BidaskClub downgraded shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Seaport Global Securities upgraded shares of Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2.00 to $2.50 in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $2.31.

Shares of Abraxas Petroleum Corporation (NASDAQ AXAS) opened at $2.23 on Friday. Abraxas Petroleum Corporation has a twelve month low of $1.45 and a twelve month high of $2.99. The stock has a market cap of $365.39, a P/E ratio of 74.33 and a beta of 1.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.47 and a quick ratio of 0.47.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last released its earnings results on Tuesday, August 8th. The energy company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $13.15 million during the quarter, compared to analysts’ expectations of $16.70 million. Abraxas Petroleum Corporation had a net margin of 18.14% and a return on equity of 7.68%. equities analysts anticipate that Abraxas Petroleum Corporation will post 0.16 EPS for the current year.

About Abraxas Petroleum Corporation

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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