Bank of New York Mellon Corp Sells 54,711 Shares of Abraxas Petroleum Corporation (AXAS)

Bank of New York Mellon Corp lessened its holdings in Abraxas Petroleum Corporation (NASDAQ:AXAS) by 8.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 573,254 shares of the energy company’s stock after selling 54,711 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.35% of Abraxas Petroleum Corporation worth $928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Alliancebernstein L.P. boosted its stake in shares of Abraxas Petroleum Corporation by 9.0% in the 1st quarter. Alliancebernstein L.P. now owns 101,900 shares of the energy company’s stock valued at $206,000 after purchasing an additional 8,400 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Abraxas Petroleum Corporation by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 162,768 shares of the energy company’s stock valued at $264,000 after purchasing an additional 9,300 shares during the last quarter. Smith Asset Management Group LP boosted its stake in shares of Abraxas Petroleum Corporation by 1.8% in the 2nd quarter. Smith Asset Management Group LP now owns 586,050 shares of the energy company’s stock valued at $949,000 after purchasing an additional 10,230 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Abraxas Petroleum Corporation by 1.2% in the 1st quarter. California Public Employees Retirement System now owns 1,067,600 shares of the energy company’s stock valued at $2,157,000 after purchasing an additional 12,200 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Abraxas Petroleum Corporation by 15.8% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 105,097 shares of the energy company’s stock valued at $212,000 after purchasing an additional 14,370 shares during the last quarter. 44.46% of the stock is currently owned by institutional investors.

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Abraxas Petroleum Corporation (NASDAQ AXAS) opened at 1.95 on Wednesday. The stock has a 50 day moving average of $1.86 and a 200 day moving average of $1.79. Abraxas Petroleum Corporation has a 52 week low of $1.45 and a 52 week high of $2.99. The company has a market cap of $316.59 million, a price-to-earnings ratio of 23.21 and a beta of 1.46.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last released its quarterly earnings results on Tuesday, August 8th. The energy company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The firm had revenue of $13.15 million for the quarter, compared to the consensus estimate of $16.70 million. Abraxas Petroleum Corporation had a return on equity of 7.68% and a net margin of 18.14%. Equities research analysts predict that Abraxas Petroleum Corporation will post $0.13 earnings per share for the current fiscal year.

AXAS has been the topic of several recent research reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Abraxas Petroleum Corporation in a research note on Friday, September 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $2.20 target price on shares of Abraxas Petroleum Corporation in a research note on Sunday, September 3rd. Zacks Investment Research lowered shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. BidaskClub lowered shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, TheStreet raised shares of Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Abraxas Petroleum Corporation has an average rating of “Buy” and an average price target of $2.31.

Abraxas Petroleum Corporation 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. 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.

Institutional Ownership by Quarter for Abraxas Petroleum Corporation (NASDAQ:AXAS)

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