Sigma Planning Corp Boosts Stake in Abraxas Petroleum Corp. (NASDAQ:AXAS)

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Sigma Planning Corp grew its position in shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) by 25.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 907,900 shares of the energy company’s stock after acquiring an additional 184,000 shares during the period. Sigma Planning Corp owned about 0.54% of Abraxas Petroleum worth $461,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AXAS. WINTON GROUP Ltd grew its holdings in shares of Abraxas Petroleum by 44.3% during the 2nd quarter. WINTON GROUP Ltd now owns 160,331 shares of the energy company’s stock worth $165,000 after acquiring an additional 49,218 shares during the period. Strs Ohio grew its holdings in shares of Abraxas Petroleum by 7.5% during the 2nd quarter. Strs Ohio now owns 190,200 shares of the energy company’s stock worth $195,000 after acquiring an additional 13,300 shares during the period. LSV Asset Management grew its holdings in shares of Abraxas Petroleum by 13.6% during the 2nd quarter. LSV Asset Management now owns 703,300 shares of the energy company’s stock worth $724,000 after acquiring an additional 84,200 shares during the period. Heartland Advisors Inc. grew its holdings in shares of Abraxas Petroleum by 47.8% during the 2nd quarter. Heartland Advisors Inc. now owns 3,555,200 shares of the energy company’s stock worth $3,662,000 after acquiring an additional 1,150,200 shares during the period. Finally, Monarch Partners Asset Management LLC grew its holdings in shares of Abraxas Petroleum by 12.5% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 385,952 shares of the energy company’s stock worth $398,000 after acquiring an additional 42,770 shares during the period. Hedge funds and other institutional investors own 51.33% of the company’s stock.

Shares of Abraxas Petroleum stock traded up $0.01 during midday trading on Friday, hitting $0.27. The company had a trading volume of 2,064,400 shares, compared to its average volume of 1,132,879. Abraxas Petroleum Corp. has a 52-week low of $0.26 and a 52-week high of $1.87. The company has a 50 day moving average of $0.39 and a 200 day moving average of $0.79. The stock has a market capitalization of $48.68 million, a P/E ratio of 1.50 and a beta of 1.69. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.47 and a current ratio of 0.47.

Abraxas Petroleum (NASDAQ:AXAS) last announced its earnings results on Wednesday, August 7th. The energy company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). Abraxas Petroleum had a return on equity of 13.62% and a net margin of 29.82%. The company had revenue of $34.82 million during the quarter, compared to the consensus estimate of $33.00 million. Equities research analysts forecast that Abraxas Petroleum Corp. will post 0.11 EPS for the current year.

AXAS has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Abraxas Petroleum from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 29th. Seaport Global Securities downgraded Abraxas Petroleum from a “buy” rating to a “neutral” rating in a report on Thursday, October 10th. ValuEngine downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Finally, LADENBURG THALM/SH SH downgraded Abraxas Petroleum from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $2.00 to $1.00 in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $2.00.

Abraxas Petroleum Profile

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.

Read More: How To Calculate Debt-to-Equity Ratio

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Institutional Ownership by Quarter for Abraxas Petroleum (NASDAQ:AXAS)

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