Abraxas Petroleum Corp. (AXAS) Expected to Announce Earnings of $0.07 Per Share

Equities research analysts expect Abraxas Petroleum Corp. (NASDAQ:AXAS) to post earnings per share of $0.07 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Abraxas Petroleum’s earnings. The highest EPS estimate is $0.08 and the lowest is $0.05. Abraxas Petroleum posted earnings per share of $0.02 in the same quarter last year, which suggests a positive year-over-year growth rate of 250%. The company is scheduled to issue its next quarterly earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that Abraxas Petroleum will report full year earnings of $0.27 per share for the current fiscal year, with EPS estimates ranging from $0.18 to $0.37. For the next year, analysts anticipate that the company will post earnings of $0.31 per share, with EPS estimates ranging from $0.09 to $0.50. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Abraxas Petroleum.

Abraxas Petroleum (NASDAQ:AXAS) last posted its earnings results on Monday, May 6th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Abraxas Petroleum had a net margin of 38.76% and a return on equity of 24.46%. The firm had revenue of $34.51 million during the quarter, compared to the consensus estimate of $31.65 million.

A number of research firms have recently issued reports on AXAS. ValuEngine upgraded shares of Abraxas Petroleum from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 9th. Zacks Investment Research upgraded shares of Abraxas Petroleum from a “sell” rating to a “hold” rating in a research note on Monday, January 21st. Finally, TheStreet upgraded shares of Abraxas Petroleum from a “d+” rating to a “c” rating in a research note on Thursday, March 14th. Three analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $3.83.

Several institutional investors have recently modified their holdings of AXAS. Prudential Financial Inc. raised its holdings in shares of Abraxas Petroleum by 96.2% in the 4th quarter. Prudential Financial Inc. now owns 24,021 shares of the energy company’s stock valued at $26,000 after purchasing an additional 11,776 shares during the period. Amalgamated Bank bought a new stake in shares of Abraxas Petroleum during the 4th quarter worth approximately $26,000. Mckinley Capital Management LLC Delaware lifted its holdings in shares of Abraxas Petroleum by 108.4% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 20,915 shares of the energy company’s stock worth $27,000 after acquiring an additional 10,877 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Abraxas Petroleum by 57,277.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 33,279 shares of the energy company’s stock worth $42,000 after acquiring an additional 33,221 shares during the period. Finally, HRT Financial LLC bought a new stake in shares of Abraxas Petroleum during the 4th quarter worth approximately $48,000. 54.21% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:AXAS traded down $0.03 during trading on Friday, reaching $1.22. The stock had a trading volume of 39,461 shares, compared to its average volume of 1,038,910. Abraxas Petroleum has a 52 week low of $0.90 and a 52 week high of $3.27. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $218.95 million, a P/E ratio of 6.78 and a beta of 1.56.

About Abraxas Petroleum

Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of oil and gas properties in the United States. The company operates oil and gas assets in the Permian/Delaware Basin, the Rocky Mountain, and South Texas regions.

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Earnings History and Estimates for Abraxas Petroleum (NASDAQ:AXAS)

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