Trade Report: The Abraxas Petroleum Corp. to Post Q4 2016 Earnings of ($0.01) Per Share, Seaport Global Securities Forecasts (AXAS)

The Abraxas Petroleum Corp. to Post Q4 2016 Earnings of ($0.01) Per Share, Seaport Global Securities Forecasts (AXAS)

Abraxas Petroleum Corp. (NASDAQ:AXAS) – Equities researchers at Seaport Global Securities issued their Q4 2016 earnings per share estimates for shares of Abraxas Petroleum Corp. in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Kelly anticipates that the firm will post earnings of ($0.01) per share for the quarter. Seaport Global Securities has a “Accumulate” rating on the stock.

Other equities analysts have also issued reports about the stock. Canaccord Genuity restated a “buy” rating and set a $2.00 price target on shares of Abraxas Petroleum Corp. in a research report on Tuesday, August 9th. Zacks Investment Research upgraded shares of Abraxas Petroleum Corp. from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research report on Monday, August 1st. Finally, Ladenburg Thalmann began coverage on shares of Abraxas Petroleum Corp. in a research note on Wednesday, July 13th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $1.46.

Abraxas Petroleum Corp. (NASDAQ:AXAS) opened at 1.73 on Tuesday. The company has a 50-day moving average of $1.56 and a 200 day moving average of $1.28. Abraxas Petroleum Corp. has a one year low of $0.65 and a one year high of $1.85. The company’s market cap is $230.95 million.

Abraxas Petroleum Corp. (NASDAQ:AXAS) last issued its earnings results on Wednesday, August 10th. The energy company reported ($0.45) earnings per share for the quarter. The firm earned $11 million during the quarter, compared to the consensus estimate of $18.94 million. Abraxas Petroleum Corp. had a negative return on equity of 15.56% and a negative net margin of 415.24%. The firm’s quarterly revenue was down 41.9% on a year-over-year basis.

In other news, VP Lee T. Billingsley sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $1.68, for a total value of $168,000.00. Following the sale, the vice president now directly owns 230,037 shares of the company’s stock, valued at approximately $386,462.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.30% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. UBS Oconnor LLC bought a new stake in Abraxas Petroleum Corp. during the second quarter worth about $751,000. State Street Corp increased its stake in Abraxas Petroleum Corp. by 2.2% in the second quarter. State Street Corp now owns 1,396,438 shares of the energy company’s stock worth $1,577,000 after buying an additional 29,402 shares during the period. Rhumbline Advisers increased its stake in Abraxas Petroleum Corp. by 17.5% in the second quarter. Rhumbline Advisers now owns 174,336 shares of the energy company’s stock worth $197,000 after buying an additional 25,916 shares during the period. Teachers Advisors Inc. increased its stake in Abraxas Petroleum Corp. by 16.8% in the second quarter. Teachers Advisors Inc. now owns 171,027 shares of the energy company’s stock worth $193,000 after buying an additional 24,591 shares during the period. Finally, TFS Capital LLC bought a new stake in Abraxas Petroleum Corp. during the second quarter worth about $200,000. 37.98% of the stock is currently owned by institutional investors and hedge funds.

Abraxas Petroleum Corp. Company Profile

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