Brokerages expect that Abraxas Petroleum Corp. (NASDAQ:AXAS) will report earnings of $0.04 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Abraxas Petroleum’s earnings, with estimates ranging from $0.02 to $0.06. Abraxas Petroleum also posted earnings of $0.04 per share in the same quarter last year. The firm is scheduled to issue its next quarterly earnings results on Tuesday, March 12th.
On average, analysts expect that Abraxas Petroleum will report full year earnings of $0.21 per share for the current year, with EPS estimates ranging from $0.18 to $0.22. For the next year, analysts anticipate that the company will post earnings of $0.33 per share, with EPS estimates ranging from $0.16 to $0.45. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Abraxas Petroleum.
Abraxas Petroleum (NASDAQ:AXAS) last released its earnings results on Wednesday, November 7th. The energy company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $41.63 million during the quarter, compared to analysts’ expectations of $33.37 million. Abraxas Petroleum had a negative net margin of 1.48% and a positive return on equity of 30.57%.
A number of research firms have recently commented on AXAS. Zacks Investment Research raised shares of Abraxas Petroleum from a “sell” rating to a “hold” rating in a research note on Monday, January 21st. Stephens initiated coverage on shares of Abraxas Petroleum in a research note on Thursday, December 6th. They set a “weight” rating and a $3.00 price objective 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 assigned a hold rating and three have given a buy rating to the company’s stock. Abraxas Petroleum has an average rating of “Hold” and a consensus target price of $3.83.
In related news, CEO Robert L. G. Watson bought 174,652 shares of the company’s stock in a transaction that occurred on Monday, December 31st. The shares were purchased at an average cost of $1.14 per share, with a total value of $199,103.28. Following the transaction, the chief executive officer now directly owns 1,394,867 shares of the company’s stock, valued at approximately $1,590,148.38. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 5.50% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Prudential Financial Inc. grew its position in Abraxas Petroleum by 96.2% during the 4th quarter. Prudential Financial Inc. now owns 24,021 shares of the energy company’s stock worth $26,000 after purchasing an additional 11,776 shares during the last quarter. Inspirion Wealth Advisors LLC grew its position in Abraxas Petroleum by 23.6% during the 4th quarter. Inspirion Wealth Advisors LLC now owns 51,020 shares of the energy company’s stock worth $56,000 after purchasing an additional 9,750 shares during the last quarter. Mycio Wealth Partners LLC grew its position in Abraxas Petroleum by 17.0% during the 4th quarter. Mycio Wealth Partners LLC now owns 75,686 shares of the energy company’s stock worth $82,000 after purchasing an additional 11,000 shares during the last quarter. Virtu Financial LLC purchased a new position in Abraxas Petroleum during the 4th quarter worth $83,000. Finally, SG Americas Securities LLC purchased a new position in Abraxas Petroleum during the 4th quarter worth $107,000. 58.13% of the stock is currently owned by institutional investors.
Shares of AXAS stock traded up $0.04 on Friday, reaching $1.10. 1,413,933 shares of the company were exchanged, compared to its average volume of 793,209. The stock has a market capitalization of $183.26 million, a P/E ratio of 9.17 and a beta of 1.51. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.35. Abraxas Petroleum has a 1 year low of $0.90 and a 1 year high of $3.27.
About Abraxas Petroleum
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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