Gilder Gagnon Howe & Co. LLC decreased its stake in Abraxas Petroleum Corporation (NASDAQ:AXAS) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 406,279 shares of the energy company’s stock after selling 8,792 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Abraxas Petroleum Corporation were worth $658,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Abraxas Petroleum Corporation during the second quarter valued at $109,000. First Quadrant L P CA bought a new stake in Abraxas Petroleum Corporation during the second quarter valued at $152,000. UBS Oconnor LLC increased its stake in Abraxas Petroleum Corporation by 542.8% in the first quarter. UBS Oconnor LLC now owns 3,091,295 shares of the energy company’s stock valued at $6,244,000 after buying an additional 2,610,368 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Abraxas Petroleum Corporation by 89.9% in the first quarter. Goldman Sachs Group Inc. now owns 362,447 shares of the energy company’s stock valued at $732,000 after buying an additional 171,554 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Abraxas Petroleum Corporation during the first quarter valued at $2,596,000. 43.35% of the stock is currently owned by institutional investors.

Shares of Abraxas Petroleum Corporation (NASDAQ AXAS) opened at 1.61 on Friday. Abraxas Petroleum Corporation has a 12-month low of $1.29 and a 12-month high of $2.99. The stock has a 50 day moving average of $1.63 and a 200 day moving average of $1.93. The stock has a market capitalization of $261.39 million, a P/E ratio of 19.17 and a beta of 1.42.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last announced its earnings results on Tuesday, August 8th. The energy company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $13.15 million for the quarter, compared to analysts’ expectations of $16.70 million. Abraxas Petroleum Corporation had a return on equity of 10.15% and a net margin of 18.14%. Equities research analysts anticipate that Abraxas Petroleum Corporation will post $0.12 EPS for the current fiscal year.

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Several research firms have weighed in on AXAS. TheStreet raised shares of Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a research report on Tuesday. BidaskClub downgraded shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research downgraded shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Canaccord Genuity began coverage on shares of Abraxas Petroleum Corporation in a research report on Monday, July 24th. They set a “buy” rating and a $2.50 target price on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $2.40 target price on shares of Abraxas Petroleum Corporation in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $2.53.

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

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