Abraxas Petroleum (AXAS) Upgraded by BidaskClub to “Strong-Buy”

BidaskClub upgraded shares of Abraxas Petroleum (NASDAQ:AXAS) from a buy rating to a strong-buy rating in a report issued on Friday morning.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Abraxas Petroleum from a hold rating to a buy rating and set a $2.25 price target on the stock in a research report on Wednesday, October 11th. Stifel Nicolaus set a $2.00 price target on Abraxas Petroleum and gave the company a buy rating in a research report on Thursday, October 5th. Canaccord Genuity restated a buy rating on shares of Abraxas Petroleum in a research report on Friday, September 8th. Finally, Robert W. Baird upgraded Abraxas Petroleum from a neutral rating to an outperform rating and set a $3.00 price target on the stock in a research report on Tuesday, December 19th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $2.45.

Shares of Abraxas Petroleum (AXAS) opened at $2.46 on Friday. Abraxas Petroleum has a 12-month low of $1.45 and a 12-month high of $2.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market capitalization of $426.34, a PE ratio of 27.34 and a beta of 1.42.

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

Several large investors have recently made changes to their positions in AXAS. Rhumbline Advisers grew its stake in shares of Abraxas Petroleum 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 buying an additional 9,300 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Abraxas Petroleum by 56.7% during the second quarter. Wells Fargo & Company MN now owns 322,978 shares of the energy company’s stock valued at $523,000 after buying an additional 116,912 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Abraxas Petroleum by 47.4% during the second quarter. Alliancebernstein L.P. now owns 150,200 shares of the energy company’s stock valued at $243,000 after buying an additional 48,300 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Abraxas Petroleum by 6.2% during the second quarter. Teachers Advisors LLC now owns 270,123 shares of the energy company’s stock valued at $438,000 after buying an additional 15,828 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Abraxas Petroleum by 114.5% during the second quarter. TIAA CREF Investment Management LLC now owns 1,184,780 shares of the energy company’s stock valued at $1,919,000 after buying an additional 632,370 shares during the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This news story was originally published by Community Financial News and is the property of of Community Financial News. If you are reading this news story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at https://www.com-unik.info/2018/01/06/abraxas-petroleum-axas-upgraded-by-bidaskclub-to-strong-buy.html.

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.

What are top analysts saying about Abraxas Petroleum? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Abraxas Petroleum and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit