Abraxas Petroleum Corporation (AXAS) Given a $2.00 Price Target at Stifel Nicolaus

Abraxas Petroleum Corporation (NASDAQ:AXAS) received a $2.00 target price from stock analysts at Stifel Nicolaus in a research report issued on Thursday, October 5th. The firm currently has a “buy” rating on the energy company’s stock. Stifel Nicolaus’ price objective would indicate a potential downside of 1.48% from the stock’s current price.

A number of other equities research analysts also recently issued reports on AXAS. Seaport Global Securities downgraded Abraxas Petroleum Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $3.25 to $2.00 in a research report on Wednesday, June 21st. Canaccord Genuity reaffirmed a “buy” rating and set a $3.00 price objective on shares of Abraxas Petroleum Corporation in a research note on Tuesday, July 4th. Zacks Investment Research cut Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. BidaskClub cut Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, TheStreet raised Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Abraxas Petroleum Corporation currently has a consensus rating of “Buy” and a consensus target price of $2.54.

Abraxas Petroleum Corporation (NASDAQ AXAS) opened at 2.03 on Thursday. The stock has a market cap of $329.58 million, a PE ratio of 24.17 and a beta of 1.46. Abraxas Petroleum Corporation has a 52 week low of $1.45 and a 52 week high of $2.99. The company has a 50-day moving average price of $1.80 and a 200-day moving average price of $1.80.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last posted its earnings results on Tuesday, August 8th. The energy company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $13.15 million for the quarter, compared to analysts’ expectations of $16.70 million. Abraxas Petroleum Corporation had a return on equity of 7.68% and a net margin of 18.14%. Analysts anticipate that Abraxas Petroleum Corporation will post $0.13 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC raised its position in shares of Abraxas Petroleum Corporation by 0.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 785,438 shares of the energy company’s stock valued at $1,272,000 after buying an additional 6,650 shares in the last quarter. Alliancebernstein L.P. raised its position in Abraxas Petroleum Corporation by 9.0% in the 1st quarter. Alliancebernstein L.P. now owns 101,900 shares of the energy company’s stock worth $206,000 after purchasing an additional 8,400 shares during the period. Rhumbline Advisers raised its position in Abraxas Petroleum Corporation by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 162,768 shares of the energy company’s stock worth $264,000 after purchasing an additional 9,300 shares during the period. Smith Asset Management Group LP raised its position in Abraxas Petroleum Corporation by 1.8% in the 2nd quarter. Smith Asset Management Group LP now owns 586,050 shares of the energy company’s stock worth $949,000 after purchasing an additional 10,230 shares during the period. Finally, California Public Employees Retirement System grew its stake in Abraxas Petroleum Corporation by 1.2% in the 1st quarter. California Public Employees Retirement System now owns 1,067,600 shares of the energy company’s stock worth $2,157,000 after acquiring an additional 12,200 shares in the last quarter. Hedge funds and other institutional investors own 44.49% of the company’s stock.

About Abraxas Petroleum Corporation

Abraxas Petroleum Corporation is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas. 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.

Analyst Recommendations for Abraxas Petroleum Corporation (NASDAQ:AXAS)

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