Abraxas Petroleum Corporation (AXAS) Upgraded at TheStreet

Abraxas Petroleum Corporation (NASDAQ:AXAS) was upgraded by stock analysts at TheStreet from a “d” rating to a “c-” rating in a research report issued on Tuesday.

AXAS has been the topic of several other reports. Seaport Global Securities downgraded shares of Abraxas Petroleum Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the company from $3.25 to $2.00 in a research report on Wednesday, June 21st. Zacks Investment Research downgraded shares of Abraxas Petroleum Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. BidaskClub downgraded shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Canaccord Genuity reiterated a “buy” rating and issued a $3.00 price objective on shares of Abraxas Petroleum Corporation in a research report on Tuesday, July 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Abraxas Petroleum Corporation from $2.40 to $2.60 and gave the company a “buy” rating in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Abraxas Petroleum Corporation currently has an average rating of “Hold” and a consensus target price of $2.53.

Abraxas Petroleum Corporation (NASDAQ AXAS) opened at 1.67 on Tuesday. Abraxas Petroleum Corporation has a 52 week low of $1.21 and a 52 week high of $2.99. The firm’s market capitalization is $271.13 million. The stock’s 50 day moving average is $1.64 and its 200-day moving average is $1.93.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last issued its quarterly earnings data on Wednesday, August 9th. The energy company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. Abraxas Petroleum Corporation had a negative net margin of 63.54% and a negative return on equity of 8.05%. On average, equities research analysts expect that Abraxas Petroleum Corporation will post $0.12 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in AXAS. Vanguard Group Inc. boosted its position in Abraxas Petroleum Corporation by 42.1% in the first quarter. Vanguard Group Inc. now owns 7,216,245 shares of the energy company’s stock valued at $14,577,000 after buying an additional 2,136,606 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Abraxas Petroleum Corporation by 56.2% in the first quarter. JPMorgan Chase & Co. now owns 4,464,294 shares of the energy company’s stock valued at $9,018,000 after buying an additional 1,606,737 shares during the last quarter. UBS Oconnor LLC boosted its position in Abraxas Petroleum Corporation by 542.8% in the first quarter. UBS Oconnor LLC now owns 3,091,295 shares of the energy company’s stock valued at $6,244,000 after buying an additional 2,610,368 shares during the last quarter. Formula Growth Ltd. bought a new position in Abraxas Petroleum Corporation during the first quarter valued at approximately $5,878,000. Finally, Thomson Horstmann & Bryant Inc. boosted its position in Abraxas Petroleum Corporation by 17.3% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 2,290,711 shares of the energy company’s stock valued at $4,627,000 after buying an additional 337,770 shares during the last quarter. 43.35% of the stock is currently owned by hedge funds and other institutional investors.

About Abraxas Petroleum Corporation

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.

Analyst Recommendations for Abraxas Petroleum Corporation (NASDAQ:AXAS)

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