Abraxas Petroleum Co. (NASDAQ:AXAS) – Seaport Global Securities increased their FY2018 EPS estimates for shares of Abraxas Petroleum in a note issued to investors on Tuesday, April 3rd. Seaport Global Securities analyst M. Kelly now expects that the energy company will earn $0.57 per share for the year, up from their prior estimate of $0.42. Seaport Global Securities also issued estimates for Abraxas Petroleum’s Q1 2019 earnings at $0.14 EPS, Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.15 EPS, Q4 2019 earnings at $0.17 EPS and FY2019 earnings at $0.60 EPS.
Other research analysts have also recently issued reports about the stock. Stifel Nicolaus lifted their price objective on shares of Abraxas Petroleum from $3.10 to $3.30 and gave the company a “buy” rating in a report on Tuesday, January 30th. BidaskClub cut shares of Abraxas Petroleum from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 30th. Canaccord Genuity reiterated a “buy” rating and set a $3.00 price objective on shares of Abraxas Petroleum in a report on Wednesday, January 24th. 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $3.09.
Abraxas Petroleum (NASDAQ:AXAS) last issued its quarterly earnings data on Tuesday, March 13th. The energy company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $29.60 million during the quarter, compared to analysts’ expectations of $28.86 million. Abraxas Petroleum had a net margin of 18.56% and a return on equity of 19.32%. The business’s revenue was up 34.5% on a year-over-year basis. During the same period last year, the company earned $0.01 earnings per share.
A number of institutional investors have recently added to or reduced their stakes in AXAS. Metropolitan Life Insurance Co. NY purchased a new position in Abraxas Petroleum during the fourth quarter worth about $110,000. Raymond James Financial Services Advisors Inc. boosted its holdings in Abraxas Petroleum by 149.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 67,101 shares of the energy company’s stock worth $126,000 after purchasing an additional 40,200 shares during the last quarter. Citadel Advisors LLC boosted its holdings in Abraxas Petroleum by 159.8% during the fourth quarter. Citadel Advisors LLC now owns 51,969 shares of the energy company’s stock worth $128,000 after purchasing an additional 31,969 shares during the last quarter. Mycio Wealth Partners LLC purchased a new position in Abraxas Petroleum during the fourth quarter worth about $135,000. Finally, Chicago Equity Partners LLC purchased a new position in Abraxas Petroleum during the fourth quarter worth about $140,000. Institutional investors and hedge funds own 51.85% of the company’s stock.
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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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