Abraxas Petroleum Corporation (AXAS) Set to Announce Earnings on Wednesday

Paterniano Del Favero
Agosto 9, 2017

In terms of a technical look around Abraxas Petroleum Corporation (AXAS) stock price comparison to its moving averages, shares of company spotted the move of -1.45% isolated from the 50-day moving average and derived 2.78% away from 20-day moving average in the most recent session.

Several hedge funds have recently made changes to their positions in AXAS.

Tudor Investment Corp Et Al purchased a new stake in shares of Abraxas Petroleum Corporation during the fourth quarter valued at $106,000.

03/20/2015 - GMP Securities began new coverage on Abraxas Petroleum Corporation giving the company a " rating. American International Group Inc. raised its stake in shares of Abraxas Petroleum Corporation by 24.9% in the first quarter. The company's stock had a trading volume of 795,402 shares. ClariVest Asset Management LLC acquired a new stake in Abraxas Petroleum Corporation during the first quarter valued at approximately $3,610,000.

In Basic Materials sector, Abraxas Petroleum Corporation (AXAS) holds floating shares of 153.24 million and 153.24 million outstanding shares. Abraxas Petroleum Corporation has a 52 week low of $1.12 and a 52 week high of $2.99. The firm's market capitalization is $271.13 million.

Its profit of 4 cents a share compares with a loss of $46.9 million, or 40 cents a share, during the same quarter a year ago, the company said in releasing its financial results after the market closed. Thomson Horstmann & Bryant Inc. now owns 2,290,711 shares of the energy company's stock worth $4,627,000 after buying an additional 337,770 shares during the last quarter.

Heading into the earnings release, covering analysts have a consensus target price of $2.68 on Abraxas Petroleum Corporation shares. The business had revenue of $18.80 million during the quarter, compared to analyst estimates of $19.87 million. During the same period in the prior year, the company posted ($0.01) earnings per share. The company's quarterly revenue was up 95.8% compared to the same quarter previous year. JPMorgan Chase & Co. increased its position in shares of Abraxas Petroleum Corporation by 56.2% in the first quarter.

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A number of research firms have weighed in on AXAS. Seaport Global Securities cut Abraxas Petroleum Corporation from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $3.25 to $2.00 in a report on Wednesday, June 21st. 1 and 2 is equivalent to a buy rating, 3 a hold rating, and 4 and 5 a sell rating. Canaccord Genuity started coverage on Abraxas Petroleum Corporation in a report on Monday, July 24th. Stifel Nicolaus upped their price objective on shares of Abraxas Petroleum Corporation from $2.40 to $2.60 and gave the company a "buy" rating in a report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. The stock now has an average rating of Hold and a consensus price target of $2.53. The brokerage now has a $2.40 target price on the energy company's stock. The Company is engaged in the acquisition, exploration, development and production of oil and gas.

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