Q3 2017 Earnings Estimate for Abraxas Petroleum Corporation Issued By Seaport Global Securities (AXAS)

Abraxas Petroleum Corporation (NASDAQ:AXAS) – Equities researchers at Seaport Global Securities upped their Q3 2017 EPS estimates for Abraxas Petroleum Corporation in a research note issued to investors on Friday. Seaport Global Securities analyst M. Kelly now forecasts that the energy company will earn $0.05 per share for the quarter, up from their prior estimate of $0.04. Seaport Global Securities currently has a “Buy” rating and a $2.50 target price on the stock.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last posted its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Abraxas Petroleum Corporation had a return on equity of 7.68% and a net margin of 18.14%. The company had revenue of $13.15 million for the quarter, compared to analysts’ expectations of $16.70 million. COPYRIGHT VIOLATION NOTICE: This article was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://ledgergazette.com/2017/10/18/q3-2017-earnings-estimate-for-abraxas-petroleum-corporation-issued-by-seaport-global-securities-axas.html.

Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Abraxas Petroleum Corporation from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research note on Wednesday, October 11th. Stifel Nicolaus set a $2.00 price objective on shares of Abraxas Petroleum Corporation and gave the stock a “buy” rating in a research note on Thursday, October 5th. Canaccord Genuity reiterated a “buy” rating on shares of Abraxas Petroleum Corporation in a research note on Friday, September 8th. TheStreet upgraded shares of Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a research note on Tuesday, August 8th. Finally, BidaskClub cut shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $2.54.

Abraxas Petroleum Corporation (AXAS) opened at 2.03 on Monday. The stock has a 50 day moving average of $1.80 and a 200 day moving average of $1.80. Abraxas Petroleum Corporation has a 1-year low of $1.45 and a 1-year high of $2.99. The stock has a market cap of $329.58 million, a P/E ratio of 24.17 and a beta of 1.46.

Large investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Abraxas Petroleum Corporation by 35.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 565,819 shares of the energy company’s stock worth $1,143,000 after purchasing an additional 149,062 shares during the period. Vanguard Group Inc. lifted its stake in shares of Abraxas Petroleum Corporation by 42.1% in the 1st quarter. Vanguard Group Inc. now owns 7,216,245 shares of the energy company’s stock worth $14,577,000 after purchasing an additional 2,136,606 shares during the period. Oxford Asset Management bought a new position in shares of Abraxas Petroleum Corporation in the 1st quarter worth approximately $261,000. Tudor Investment Corp ET AL lifted its stake in shares of Abraxas Petroleum Corporation by 92.2% in the 1st quarter. Tudor Investment Corp ET AL now owns 79,586 shares of the energy company’s stock worth $161,000 after purchasing an additional 38,179 shares during the period. Finally, Citadel Advisors LLC lifted its stake in shares of Abraxas Petroleum Corporation by 716.8% in the 1st quarter. Citadel Advisors LLC now owns 415,792 shares of the energy company’s stock worth $840,000 after purchasing an additional 364,890 shares during the period. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Abraxas Petroleum Corporation Company Profile

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.

Earnings History and Estimates for Abraxas Petroleum Corporation (NASDAQ:AXAS)

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