The stock of Abraxas Petroleum Corp. (NASDAQ:AXAS) is a huge mover today! About 1.35 million shares traded hands or 20.54% up from the average. Abraxas Petroleum Corp. (NASDAQ:AXAS) has risen 46.83% since April 27, 2016 and is uptrending. It has outperformed by 41.60% the S&P500.
The move comes after 9 months positive chart setup for the $271.62M company. It was reported on Nov, 30 by Barchart.com. We have $2.26 PT which if reached, will make NASDAQ:AXAS worth $24.45 million more.
Analysts await Abraxas Petroleum Corp. (NASDAQ:AXAS) to report earnings on March, 21. They expect $-0.01 earnings per share, up 50.00% or $0.01 from last year’s $-0.02 per share. After $-0.02 actual earnings per share reported by Abraxas Petroleum Corp. for the previous quarter, Wall Street now forecasts -50.00% EPS growth.
Abraxas Petroleum Corp. (NASDAQ:AXAS) Ratings Coverage
Out of 7 analysts covering Abraxas Petroleum (NASDAQ:AXAS), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Abraxas Petroleum has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Wednesday, July 13 by Ladenburg Thalmann. Canaccord Genuity maintained Abraxas Petroleum Corp. (NASDAQ:AXAS) rating on Friday, August 7. Canaccord Genuity has “Buy” rating and $4 price target. Rodman & Renshaw initiated Abraxas Petroleum Corp. (NASDAQ:AXAS) on Friday, October 21 with “Buy” rating. Euro Pacific Capital maintained Abraxas Petroleum Corp. (NASDAQ:AXAS) rating on Friday, September 4. Euro Pacific Capital has “Buy” rating and $2.5 price target. Imperial Capital maintained it with “In-Line” rating and $1.75 target price in Friday, September 11 report. The firm earned “Outperform” rating on Monday, April 18 by Cowen & Co. The firm earned “In-Line” rating on Thursday, December 17 by Imperial Capital.
According to Zacks Investment Research, “Abraxas Petroleum Corporation is an independent energy company engaged primarily in the acquisition, exploration, exploitation and production of crude oil and natural gas. They seek to complement their acquisition and development activities by selectively participating in exploration projects with experienced industry partners.”
Insitutional Activity: The institutional sentiment decreased to 1.21 in 2016 Q2. Its down 0.15, from 1.36 in 2016Q1. The ratio worsened, as 17 funds sold all Abraxas Petroleum Corp. shares owned while 22 reduced positions. 16 funds bought stakes while 37 increased positions. They now own 47.31 million shares or 31.78% more from 35.90 million shares in 2016Q1.
Ameriprise accumulated 0% or 22,917 shares. Blackrock has 33,378 shares for 0% of their US portfolio. Geode Capital Ltd Company has 785,110 shares for 0% of their US portfolio. Dimensional Fund L P, a Texas-based fund reported 956,359 shares. Sunbelt Incorporated owns 2,000 shares or 0% of their US portfolio. Advisory Serv Network Ltd Com has invested 0% of its portfolio in Abraxas Petroleum Corp. (NASDAQ:AXAS). Credit Suisse Ag has 0% invested in the company for 127,855 shares. Atwood Palmer Inc, a Missouri-based fund reported 13,500 shares. Panagora Asset Mngmt Inc owns 19,617 shares or 0% of their US portfolio. Commonwealth Equity Service last reported 0% of its portfolio in the stock. Brave Asset Management Inc reported 22,500 shares or 0.02% of all its holdings. D E Shaw Com accumulated 0% or 29,812 shares. Next Fincl, a Texas-based fund reported 333 shares. Dalton Greiner Hartman Maher & Commerce reported 386,874 shares or 0.03% of all its holdings. Kcg holds 0% of its portfolio in Abraxas Petroleum Corp. (NASDAQ:AXAS) for 19,664 shares.
Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 2 insider sales for $247,000 net activity. BILLINGSLEY LEE T had sold 100,000 shares worth $167,500 on Tuesday, September 27. On Wednesday, June 1 the insider RUSSELL EDWARD bought $4,320.
More news for Abraxas Petroleum Corp. (NASDAQ:AXAS) were recently published by: Bizjournals.com, which released: “Abraxas Petroleum slows the bleeding; plans to sell Powder Basin assets amid …” on November 09, 2016. Bizjournals.com‘s article titled: “Abraxas Petroleum to pay down $13 million in debt after selling 2000-plus-acre …” and published on September 22, 2016 is yet another important article.
AXAS Company Profile
Abraxas Petroleum Corporation, incorporated on August 31, 1990, is an independent energy company. The Firm is engaged in the acquisition, exploration, development and production of gas and oil. The Company’s estimated net proved reserves are approximately 43.2 million barrels of oil equivalent (MMBoe), of which over 38% are classified as proved developed, approximately 71% are oil and natural gas liquids (NGL), and approximately 95% of which (on a PV-10 basis) are operated by the Company. The Company’s daily net production is approximately 5,970 barrels of oil equivalent per day (Boepd), of which over 77% is oil or liquids. The Company’s gas and oil assets are located in three operating regions: the Rocky Mountain, Permian Basin and onshore Gulf Coast.
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