Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) have been assigned an average recommendation of “Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $2.95.
AXAS has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price objective on shares of Abraxas Petroleum from $3.10 to $3.30 and gave the stock a “buy” rating in a report on Tuesday, January 30th. BidaskClub downgraded shares of Abraxas Petroleum from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 30th. Canaccord Genuity restated a “buy” rating and set a $3.00 price objective on shares of Abraxas Petroleum in a report on Wednesday, January 24th. Zacks Investment Research downgraded shares of Abraxas Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Robert W. Baird upgraded shares of Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 price objective for the company in a report on Tuesday, December 19th.
Abraxas Petroleum (NASDAQ:AXAS) traded up $0.06 during midday trading on Wednesday, reaching $2.31. 389,278 shares of the company were exchanged, compared to its average volume of 1,060,000. Abraxas Petroleum has a 1-year low of $1.45 and a 1-year high of $2.74. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $393.42, a P/E ratio of 25.67 and a beta of 1.44.
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Abraxas Petroleum 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.
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