Alliancebernstein L.P. boosted its position in shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) by 47.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,200 shares of the energy company’s stock after acquiring an additional 48,300 shares during the period. Alliancebernstein L.P. owned about 0.09% of Abraxas Petroleum Corporation worth $243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wells Fargo & Company MN grew its holdings in Abraxas Petroleum Corporation by 56.7% during the 2nd quarter. Wells Fargo & Company MN now owns 322,978 shares of the energy company’s stock worth $523,000 after acquiring an additional 116,912 shares in the last quarter. Cadence Capital Management LLC grew its holdings in Abraxas Petroleum Corporation by 57.3% during the 2nd quarter. Cadence Capital Management LLC now owns 602,263 shares of the energy company’s stock worth $976,000 after acquiring an additional 219,503 shares in the last quarter. Sigma Planning Corp grew its holdings in Abraxas Petroleum Corporation by 29.2% during the 2nd quarter. Sigma Planning Corp now owns 554,200 shares of the energy company’s stock worth $898,000 after acquiring an additional 125,300 shares in the last quarter. Rhumbline Advisers grew its holdings in Abraxas Petroleum Corporation by 6.1% during the 2nd quarter. Rhumbline Advisers now owns 162,768 shares of the energy company’s stock worth $264,000 after acquiring an additional 9,300 shares in the last quarter. Finally, Smith Asset Management Group LP grew its holdings in Abraxas Petroleum Corporation by 1.8% during the 2nd quarter. Smith Asset Management Group LP now owns 586,050 shares of the energy company’s stock worth $949,000 after acquiring an additional 10,230 shares in the last quarter. Institutional investors own 43.52% of the company’s stock.

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AXAS has been the subject of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $2.20 price target on shares of Abraxas Petroleum Corporation in a report on Sunday, September 3rd. Zacks Investment Research upgraded shares of Abraxas Petroleum Corporation from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a report on Wednesday, October 11th. Canaccord Genuity reiterated a “buy” rating on shares of Abraxas Petroleum Corporation in a report on Friday, September 8th. BidaskClub cut shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Seaport Global Securities upgraded shares of Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $2.00 to $2.50 in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Abraxas Petroleum Corporation currently has a consensus rating of “Buy” and a consensus target price of $2.31.

Shares of Abraxas Petroleum Corporation (AXAS) opened at $2.08 on Friday. The firm has a market cap of $345.05, a P/E ratio of 23.11 and a beta of 1.44. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.32. Abraxas Petroleum Corporation has a 12-month low of $1.45 and a 12-month high of $2.99.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last issued its quarterly earnings data on Tuesday, November 7th. The energy company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $24.70 million for the quarter, compared to analysts’ expectations of $25.38 million. Abraxas Petroleum Corporation had a return on equity of 19.02% and a net margin of 18.83%. The firm’s quarterly revenue was up 76.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. research analysts expect that Abraxas Petroleum Corporation will post 0.16 earnings per share for the current fiscal year.

Abraxas Petroleum Corporation 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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