Abraxas Petroleum Corporation (AXAS) to Release Quarterly Earnings on Wednesday
Abraxas Petroleum Corporation (NASDAQ:AXAS) will be issuing its quarterly earnings data before the market opens on Wednesday, August 9th. Analysts expect the company to announce earnings of $0.02 per share for the quarter.
Abraxas Petroleum Corporation (NASDAQ:AXAS) last announced its quarterly earnings data on Tuesday, May 9th. The energy company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. The business had revenue of $18.80 million during the quarter, compared to analyst estimates of $19.87 million. Abraxas Petroleum Corporation had a negative net margin of 63.54% and a negative return on equity of 8.05%. The firm’s revenue for the quarter was up 95.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, analysts expect Abraxas Petroleum Corporation to post $0.12 EPS for the current fiscal year and $0.16 EPS for the next fiscal year.
Abraxas Petroleum Corporation (AXAS) opened at 1.68 on Tuesday. The firm’s market cap is $272.76 million. Abraxas Petroleum Corporation has a 12 month low of $1.12 and a 12 month high of $2.99. The stock’s 50 day moving average is $1.67 and its 200-day moving average is $1.97.
AXAS has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Abraxas Petroleum Corporation from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research note on Monday, May 29th. Seaport Global Securities cut shares of Abraxas Petroleum Corporation from a “buy” rating to a “neutral” rating and cut their target price for the stock from $3.25 to $2.00 in a research note on Wednesday, June 21st. BidaskClub cut shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Saturday. Canaccord Genuity restated a “buy” rating and set a $3.00 target price on shares of Abraxas Petroleum Corporation in a research note on Tuesday, July 4th. Finally, Stifel Nicolaus restated a “buy” rating and set a $2.40 target price on shares of Abraxas Petroleum Corporation in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $2.53.
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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.
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