Analysts Set Abraxas Petroleum Corp. (NASDAQ:AXAS) PT at $1.00

Abraxas Petroleum Corp. (NASDAQ:AXAS) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $1.00.

AXAS has been the subject of several recent analyst reports. Johnson Rice lowered Abraxas Petroleum from a “buy” rating to an “accumulate” rating in a research note on Tuesday, November 19th. Seaport Global Securities lowered Abraxas Petroleum from a “buy” rating to a “neutral” rating in a research note on Thursday, October 10th. Zacks Investment Research lowered Abraxas Petroleum from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 29th. Finally, ValuEngine upgraded Abraxas Petroleum from a “strong sell” rating to a “sell” rating in a research note on Friday, January 3rd.

Large investors have recently made changes to their positions in the company. California Public Employees Retirement System increased its stake in shares of Abraxas Petroleum by 5.8% in the third quarter. California Public Employees Retirement System now owns 1,037,500 shares of the energy company’s stock valued at $527,000 after buying an additional 56,800 shares in the last quarter. State Street Corp increased its stake in shares of Abraxas Petroleum by 6.6% in the third quarter. State Street Corp now owns 2,902,957 shares of the energy company’s stock valued at $1,473,000 after buying an additional 178,655 shares in the last quarter. BlackRock Inc. increased its stake in shares of Abraxas Petroleum by 1.0% in the second quarter. BlackRock Inc. now owns 11,604,693 shares of the energy company’s stock valued at $11,953,000 after buying an additional 112,823 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Abraxas Petroleum in the third quarter valued at $61,000. Finally, Sigma Planning Corp increased its stake in shares of Abraxas Petroleum by 25.4% in the third quarter. Sigma Planning Corp now owns 907,900 shares of the energy company’s stock valued at $461,000 after buying an additional 184,000 shares in the last quarter. Institutional investors own 45.75% of the company’s stock.

Abraxas Petroleum stock opened at $0.32 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a fifty day moving average price of $0.32 and a two-hundred day moving average price of $0.52. Abraxas Petroleum has a 52-week low of $0.22 and a 52-week high of $1.55. The firm has a market capitalization of $53.84 million, a P/E ratio of 1.78 and a beta of 1.77.

Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings data on Wednesday, November 13th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Abraxas Petroleum had a return on equity of 9.26% and a net margin of 43.17%. The company had revenue of $31.54 million for the quarter, compared to analyst estimates of $34.15 million. On average, equities research analysts predict that Abraxas Petroleum will post 0.08 EPS for the current fiscal year.

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.

Featured Story: 52-Week High/Low Prices For Stock Selection

Receive News & Ratings for Abraxas Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abraxas Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.