Abraxas Petroleum Corp. (NASDAQ:AXAS)’s share price traded down 7% during trading on Thursday . The stock traded as low as $1.06 and last traded at $1.06. 1,146,990 shares were traded during trading, an increase of 21% from the average session volume of 951,077 shares. The stock had previously closed at $1.14.
Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Abraxas Petroleum from a “sell” rating to a “hold” rating in a research note on Monday, January 21st. Stephens assumed coverage on shares of Abraxas Petroleum in a research note on Thursday, December 6th. They set a “weight” rating and a $3.00 target price for the company. BidaskClub cut shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 6th. Finally, ValuEngine cut shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $3.83.
The firm has a market cap of $189.92 million, a PE ratio of 8.83 and a beta of 1.51. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35.
Abraxas Petroleum (NASDAQ:AXAS) last announced its quarterly earnings results on Wednesday, November 7th. The energy company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The firm had revenue of $41.63 million for the quarter, compared to analyst estimates of $33.37 million. Abraxas Petroleum had a negative net margin of 1.48% and a positive return on equity of 30.57%. As a group, equities analysts anticipate that Abraxas Petroleum Corp. will post 0.21 earnings per share for the current year.
In other Abraxas Petroleum news, CEO Robert L. G. Watson purchased 174,652 shares of the stock in a transaction on Tuesday, December 31st. The shares were purchased at an average price of $1.14 per share, with a total value of $199,103.28. Following the acquisition, the chief executive officer now directly owns 1,394,867 shares of the company’s stock, valued at approximately $1,590,148.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Abraxas Petroleum by 1.3% in the 3rd quarter. BlackRock Inc. now owns 11,784,472 shares of the energy company’s stock valued at $27,458,000 after buying an additional 151,020 shares during the period. Vanguard Group Inc grew its holdings in shares of Abraxas Petroleum by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 8,477,204 shares of the energy company’s stock worth $19,753,000 after purchasing an additional 63,202 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Abraxas Petroleum by 65.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 717,032 shares of the energy company’s stock worth $2,073,000 after purchasing an additional 284,577 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Abraxas Petroleum by 56.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,231,327 shares of the energy company’s stock worth $12,229,000 after purchasing an additional 1,526,579 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Abraxas Petroleum by 8.0% in the 2nd quarter. Northern Trust Corp now owns 2,229,415 shares of the energy company’s stock worth $6,444,000 after purchasing an additional 165,468 shares during the last quarter. 58.13% of the stock is currently owned by hedge funds and other institutional investors.
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About Abraxas Petroleum (NASDAQ:AXAS)
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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