Abraxas Petroleum Corporation (NASDAQ:AXAS) has been assigned an average rating of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $2.68.

A number of research analysts recently weighed in on the stock. Canaccord Genuity reissued a “buy” rating on shares of Abraxas Petroleum Corporation in a research report on Friday, September 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $2.20 price objective on shares of Abraxas Petroleum Corporation in a research report on Sunday, September 3rd. Zacks Investment Research raised shares of Abraxas Petroleum Corporation from a “strong sell” rating to a “hold” rating in a research report on Friday, August 18th. Seaport Global Securities raised shares of Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $2.00 to $2.50 in a research report on Friday, August 11th. Finally, TheStreet raised shares of Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a research report on Tuesday, August 8th.

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Hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its position in Abraxas Petroleum Corporation by 35.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 565,819 shares of the energy company’s stock worth $1,143,000 after acquiring an additional 149,062 shares during the period. Vanguard Group Inc. raised its position in Abraxas Petroleum Corporation by 42.1% in the first quarter. Vanguard Group Inc. now owns 7,216,245 shares of the energy company’s stock worth $14,577,000 after acquiring an additional 2,136,606 shares during the period. Van ECK Associates Corp bought a new stake in Abraxas Petroleum Corporation in the first quarter worth about $2,616,000. Oxford Asset Management bought a new stake in Abraxas Petroleum Corporation in the first quarter worth about $261,000. Finally, Formula Growth Ltd. bought a new stake in Abraxas Petroleum Corporation in the first quarter worth about $5,878,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of Abraxas Petroleum Corporation (AXAS) opened at 1.63 on Wednesday. The company has a market capitalization of $264.64 million, a PE ratio of 19.40 and a beta of 1.48. The stock has a 50 day moving average of $1.69 and a 200-day moving average of $1.82. Abraxas Petroleum Corporation has a one year low of $1.41 and a one year high of $2.99.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last released its quarterly earnings results on Tuesday, August 8th. The energy company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Abraxas Petroleum Corporation had a net margin of 18.14% and a return on equity of 7.68%. The firm had revenue of $13.15 million for the quarter, compared to the consensus estimate of $16.70 million. On average, equities analysts forecast that Abraxas Petroleum Corporation will post $0.14 earnings per share for the current fiscal year.

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.

Analyst Recommendations for Abraxas Petroleum Corporation (NASDAQ:AXAS)

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