TheStreet Upgrades Abraxas Petroleum Corporation (NASDAQ:AXAS) to "C-"

Paterniano Del Favero
Agosto 15, 2017

TheStreet upgraded shares of Abraxas Petroleum Corporation from a "d" rating to a "c-" rating in a report on Tuesday. The firm now has $2.50 price objective on the energy company's stock, up from their prior price objective of $2.00.

Other analysts have also recently issued research reports about the company. Finally, American International Group Inc. boosted its stake in Abraxas Petroleum Corporation by 24.9% in the first quarter. BidaskClub downgraded Abraxas Petroleum Corporation from a "hold" rating to a "sell" rating in a research note 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 reaffirmed a "buy" rating and set a $3.00 price target on shares of Abraxas Petroleum Corporation in a research note on Tuesday, July 4th. Seaport Global upgraded the stock to "Buy" rating in Friday, August 11 report. Seaport Global Securities raised Abraxas Petroleum Corporation from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $2.00 to $2.50 in a research note on Friday.

Among 29 analysts covering Regions Financial Corp (NYSE:RF), 7 have Buy rating, 4 Sell and 18 Hold. The company now has an average rating of "Hold" and a consensus target price of $2.53.

Shares of Abraxas Petroleum Corporation (AXAS) opened at 1.61 on Friday. Amici Capital Llc acquired 468,000 shares as Hecla Mng Co (HL)'s stock declined 10.64%. The stock's average target of $3.25 is 101.86% above today's ($1.61) share price. Abraxas Petroleum Corporation has a 1 year low of $1.29 and a 1 year high of $2.99. the firms 50 Day SMA is $1.63 and its 200 SMA is $1.93. The firm has a market capitalization of $271.13 million, a price-to-earnings ratio of 19.88 and a beta of 1.42.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last issued its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.02 by $0.01. Abraxas Petroleum Corporation had a negative net margin of 63.54% and a negative return on equity of 8.05%. The company had revenue of $13.15 million for the quarter, compared to the consensus estimate of $16.70 million. On average, equities research analysts predict that Abraxas Petroleum Corporation will post $0.13 earnings per share for the current fiscal year. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & worldwide copyright and trademark legislation. The original version of this piece can be accessed at https://baseballnewssource.com/markets/thestreet-upgrades-abraxas-petroleum-corporation-nasdaqaxas-to-c/1441822.html. It improved, as 13 investors sold Abraxas Petroleum Corp. shares while 34 reduced holdings. CAPROCK Group Inc. purchased a new stake in Abraxas Petroleum Corporation during the first quarter worth approximately $107,000. UBS Oconnor LLC now owns 3,091,295 shares of the energy company's stock worth $6,244,000 after buying an additional 2,610,368 shares during the last quarter. The firm owned 406,279 shares of the energy company's stock after selling 8,792 shares during the period. Vanguard Group Inc. boosted its stake in Abraxas Petroleum Corporation by 42.1% in the first quarter. TFS Capital LLC now owns 121,073 shares of the energy company's stock worth $245,000 after buying an additional 84,861 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Abraxas Petroleum Corporation by 1.2% in the first quarter. The stock had a trading volume of 1,851,508 shares.

National Bank & Trust Of New York Mellon Corporation reported 0% of its portfolio in Abraxas Petroleum Corp. The Firm is engaged in the acquisition, exploration, development and production of gas and oil. 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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