Abraxas Petroleum Corp. (NASDAQ:AXAS) rose 6.5% on Monday . The company traded as high as $0.50 and last traded at $0.49, approximately 1,638,974 shares were traded during mid-day trading. An increase of 57% from the average daily volume of 1,041,389 shares. The stock had previously closed at $0.46.

AXAS has been the subject of a number of analyst reports. Seaport Global Securities reaffirmed a “buy” rating on shares of Abraxas Petroleum in a report on Friday, June 21st. Zacks Investment Research raised Abraxas Petroleum from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, ValuEngine cut Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a report on Monday, April 29th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $3.25.

The company has a 50 day simple moving average of $0.83 and a 200 day simple moving average of $1.12. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $85.89 million, a PE ratio of 3.28 and a beta of 1.67.

Abraxas Petroleum (NASDAQ:AXAS) last posted its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.02). Abraxas Petroleum had a return on equity of 13.98% and a net margin of 29.82%. The firm had revenue of $34.82 million for the quarter, compared to analysts’ expectations of $33.00 million. As a group, equities research analysts anticipate that Abraxas Petroleum Corp. will post 0.16 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Mckinley Capital Management LLC Delaware grew its position in shares of Abraxas Petroleum by 108.4% in the first quarter. Mckinley Capital Management LLC Delaware now owns 20,915 shares of the energy company’s stock valued at $27,000 after purchasing an additional 10,877 shares in the last quarter. Strs Ohio grew its position in shares of Abraxas Petroleum by 7.5% in the second quarter. Strs Ohio now owns 190,200 shares of the energy company’s stock valued at $195,000 after purchasing an additional 13,300 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Abraxas Petroleum by 4.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 414,456 shares of the energy company’s stock valued at $427,000 after purchasing an additional 16,831 shares in the last quarter. Cornerstone Investment Partners LLC grew its position in shares of Abraxas Petroleum by 55.7% in the first quarter. Cornerstone Investment Partners LLC now owns 47,638 shares of the energy company’s stock valued at $60,000 after purchasing an additional 17,035 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Abraxas Petroleum by 29.4% in the fourth quarter. Bank of America Corp DE now owns 104,021 shares of the energy company’s stock valued at $114,000 after purchasing an additional 23,616 shares in the last quarter. Institutional investors own 51.91% of the company’s stock.

About Abraxas Petroleum (NASDAQ:AXAS)

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.

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