Abraxas Petroleum Corp. (NASDAQ:AXAS) – Investment analysts at Seaport Global Securities decreased their Q3 2016 earnings per share estimates for shares of Abraxas Petroleum Corp. in a research report issued on Monday. Seaport Global Securities analyst M. Kelly now forecasts that the brokerage will post earnings of ($0.03) per share for the quarter, down from their prior estimate of ($0.02). Seaport Global Securities has a “Accumulate” rating and a $2.50 price target on the stock. Seaport Global Securities also issued estimates for Abraxas Petroleum Corp.’s FY2016 earnings at ($0.10) EPS, Q2 2017 earnings at $0.02 EPS, Q3 2017 earnings at $0.03 EPS and Q4 2017 earnings at $0.04 EPS.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last released its quarterly earnings results on Wednesday, August 10th. The energy company reported ($0.45) earnings per share (EPS) for the quarter. Abraxas Petroleum Corp. had a negative net margin of 415.24% and a negative return on equity of 15.56%. The firm had revenue of $11 million for the quarter, compared to the consensus estimate of $18.94 million. The business’s quarterly revenue was down 41.9% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the company. Ladenburg Thalmann initiated coverage on Abraxas Petroleum Corp. in a research note on Wednesday, July 13th. They issued a “buy” rating for the company. Canaccord Genuity reiterated a “buy” rating and issued a $2.00 price target on shares of Abraxas Petroleum Corp. in a research note on Wednesday, July 13th. Finally, Zacks Investment Research lowered Abraxas Petroleum Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Abraxas Petroleum Corp. has an average rating of “Hold” and an average price target of $1.61.
Abraxas Petroleum Corp. (NASDAQ:AXAS) traded down 2.27% on Wednesday, hitting $1.72. The stock had a trading volume of 440,459 shares. The company’s 50 day moving average is $1.56 and its 200-day moving average is $1.28. The stock’s market cap is $229.61 million. Abraxas Petroleum Corp. has a 12 month low of $0.65 and a 12 month high of $1.85.
Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Abraxas Petroleum Corp. by 1.3% in the first quarter. Geode Capital Management LLC now owns 606,301 shares of the energy company’s stock valued at $612,000 after buying an additional 7,965 shares during the period. Thomson Horstmann & Bryant Inc. increased its position in shares of Abraxas Petroleum Corp. by 18.5% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 2,222,240 shares of the energy company’s stock worth $2,511,000 after buying an additional 347,100 shares during the last quarter. Sigma Planning Corp increased its position in shares of Abraxas Petroleum Corp. by 5.3% in the second quarter. Sigma Planning Corp now owns 326,400 shares of the energy company’s stock worth $369,000 after buying an additional 16,400 shares during the last quarter. Smith Asset Management Group LP increased its position in shares of Abraxas Petroleum Corp. by 8.7% in the second quarter. Smith Asset Management Group LP now owns 536,310 shares of the energy company’s stock worth $606,000 after buying an additional 42,921 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Abraxas Petroleum Corp. by 33.1% in the second quarter. Bank of New York Mellon Corp now owns 467,849 shares of the energy company’s stock worth $529,000 after buying an additional 116,394 shares during the last quarter. Institutional investors and hedge funds own 37.98% of the company’s stock.
In other news, VP Lee T. Billingsley sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $1.68, for a total value of $168,000.00. Following the transaction, the vice president now owns 230,037 shares in the company, valued at $386,462.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.30% of the stock is owned by insiders.
Abraxas Petroleum Corp. Company Profile
Abraxas Petroleum Corporation is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas. The Company’s estimated net proved reserves are approximately 43.2 million barrels of oil equivalent (MMBoe), of which over 38% are classified as proved developed, approximately 71% are oil and natural gas liquids (NGL), and approximately 95% of which (on a PV-10 basis) are operated by the Company.
Receive News & Ratings for Abraxas Petroleum Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abraxas Petroleum Corp. and related companies with MarketBeat.com's FREE daily email newsletter.