Abraxas Petroleum (AXAS) Stock Rating Upgraded by BidaskClub

Abraxas Petroleum (NASDAQ:AXAS) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Abraxas Petroleum from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a report on Wednesday, October 11th. Stifel Nicolaus set a $2.00 price target on shares of Abraxas Petroleum and gave the stock a “buy” rating in a report on Thursday, October 5th. Canaccord Genuity restated a “buy” rating on shares of Abraxas Petroleum in a report on Friday, September 8th. Finally, Robert W. Baird upgraded shares of Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 price target for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Abraxas Petroleum has an average rating of “Buy” and a consensus price target of $2.45.

Abraxas Petroleum (NASDAQ:AXAS) opened at $2.21 on Thursday. Abraxas Petroleum has a fifty-two week low of $1.45 and a fifty-two week high of $2.99. The company has a market cap of $371.59, a PE ratio of 24.89 and a beta of 1.43. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61.

Abraxas Petroleum (NASDAQ:AXAS) last announced its earnings results on Tuesday, November 7th. The energy company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). Abraxas Petroleum had a return on equity of 17.00% and a net margin of 18.83%. The firm had revenue of $24.70 million during the quarter, compared to analyst estimates of $25.38 million. During the same quarter in the previous year, the business earned ($0.02) earnings per share. The business’s quarterly revenue was up 76.4% compared to the same quarter last year. sell-side analysts predict that Abraxas Petroleum will post 0.14 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Abraxas Petroleum by 149.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 67,101 shares of the energy company’s stock worth $126,000 after purchasing an additional 40,200 shares during the period. Susquehanna International Group LLP boosted its holdings in shares of Abraxas Petroleum 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 purchasing an additional 28,606 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Abraxas Petroleum by 24.5% during the second quarter. Voya Investment Management LLC now owns 73,546 shares of the energy company’s stock worth $119,000 after purchasing an additional 14,483 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Abraxas Petroleum by 106.5% during the third quarter. Cubist Systematic Strategies LLC now owns 81,798 shares of the energy company’s stock worth $154,000 after purchasing an additional 42,188 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Abraxas Petroleum by 311.3% during the third quarter. Dimensional Fund Advisors LP now owns 86,128 shares of the energy company’s stock worth $162,000 after purchasing an additional 65,188 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.

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About Abraxas Petroleum

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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