California State Teachers Retirement System Raises Stake in Abraxas Petroleum Corp. (AXAS)
California State Teachers Retirement System boosted its stake in Abraxas Petroleum Corp. (NASDAQ:AXAS) by 30.2% during the second quarter, Holdings Channel reports. The firm owned 258,968 shares of the energy company’s stock after buying an additional 60,026 shares during the period. California State Teachers Retirement System owned about 0.25% of Abraxas Petroleum Corp. worth $293,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Thomson Horstmann & Bryant Inc. boosted its stake 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 valued at $2,511,000 after buying an additional 347,100 shares during the period. Geode Capital Management LLC raised 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 in the last quarter. Smith Asset Management Group LP raised its position in 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 valued at $606,000 after buying an additional 42,921 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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 valued at $529,000 after buying an additional 116,394 shares in the last quarter. Finally, Sigma Planning Corp raised its position in Abraxas Petroleum Corp. by 5.3% in the second quarter. Sigma Planning Corp now owns 326,400 shares of the energy company’s stock valued at $369,000 after buying an additional 16,400 shares in the last quarter. 38.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) traded down 0.6313% on Tuesday, hitting $1.5899. The company’s stock had a trading volume of 251,275 shares. The firm’s market cap is $212.25 million. The stock has a 50-day moving average price of $1.59 and a 200 day moving average price of $1.30. Abraxas Petroleum Corp. has a one year low of $0.65 and a one year high of $1.85.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last released its quarterly earnings results on Wednesday, August 10th. The energy company reported ($0.45) earnings per share for the quarter. Abraxas Petroleum Corp. had a negative return on equity of 15.56% and a negative net margin of 415.24%. The company had revenue of $11 million for the quarter, compared to analyst estimates of $18.94 million. The business’s revenue was down 41.9% on a year-over-year basis. Equities research analysts predict that Abraxas Petroleum Corp. will post ($0.11) EPS for the current year.
Several research analysts recently commented on the company. Seaport Global Securities upgraded Abraxas Petroleum Corp. from a “neutral” rating to an “accumulate” rating and set a $2.50 price target for the company in a research report on Monday, October 10th. Zacks Investment Research upgraded Abraxas Petroleum Corp. from a “strong sell” rating to a “hold” rating in a research report on Monday. Canaccord Genuity set a $2.00 price target on Abraxas Petroleum Corp. and gave the stock a “buy” rating in a research report on Tuesday, September 20th. Finally, Ladenburg Thalmann assumed coverage on Abraxas Petroleum Corp. in a research report on Wednesday, July 13th. They issued a “buy” rating for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $1.61.
In related news, VP Lee T. Billingsley sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $1.68, for a total transaction of $168,000.00. Following the completion of the transaction, the vice president now owns 230,037 shares in the company, valued at approximately $386,462.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.30% of the company’s stock.
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.
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