Abraxas Petroleum Corp. (NASDAQ:AXAS) has earned an average rating of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $1.00.

AXAS has been the topic of a number of research reports. Stephens lowered Abraxas Petroleum from an “equal weight” rating to an “underweight” rating in a research report on Friday, March 20th. Zacks Investment Research downgraded Abraxas Petroleum from a “buy” rating to a “sell” rating in a report on Wednesday, July 1st. Canaccord Genuity reaffirmed a “hold” rating on shares of Abraxas Petroleum in a report on Tuesday, March 17th. Finally, ValuEngine downgraded Abraxas Petroleum from a “hold” rating to a “sell” rating in a report on Thursday.

AXAS stock traded up $0.02 during midday trading on Friday, reaching $0.22. 5,670,300 shares of the stock were exchanged, compared to its average volume of 6,806,143. The stock has a market capitalization of $33.29 million, a PE ratio of 0.63 and a beta of 3.47. Abraxas Petroleum has a 52 week low of $0.09 and a 52 week high of $1.08. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.42 and a quick ratio of 0.42. The company has a fifty day moving average price of $0.25 and a 200 day moving average price of $0.24.

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its stake in shares of Abraxas Petroleum by 284.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 117,074 shares of the energy company’s stock valued at $41,000 after purchasing an additional 86,620 shares during the period. Sigma Planning Corp lifted its stake in shares of Abraxas Petroleum by 7.8% in the 1st quarter. Sigma Planning Corp now owns 1,041,300 shares of the energy company’s stock valued at $126,000 after purchasing an additional 75,500 shares during the period. State Street Corp lifted its stake in shares of Abraxas Petroleum by 10.7% in the 1st quarter. State Street Corp now owns 3,099,799 shares of the energy company’s stock valued at $375,000 after purchasing an additional 299,233 shares during the period. UBS Group AG lifted its stake in shares of Abraxas Petroleum by 129.3% in the 4th quarter. UBS Group AG now owns 301,279 shares of the energy company’s stock valued at $106,000 after purchasing an additional 169,916 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Abraxas Petroleum by 3,083.9% in the 1st quarter. Russell Investments Group Ltd. now owns 3,852,559 shares of the energy company’s stock valued at $466,000 after purchasing an additional 3,731,557 shares during the period. 28.73% of the stock is currently owned by hedge funds and other institutional investors.

Abraxas Petroleum Company 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.

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Analyst Recommendations for Abraxas Petroleum (NASDAQ:AXAS)

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