Parametric Portfolio Associates LLC increased its stake in shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) by 652.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,284 shares of the energy company’s stock after buying an additional 196,220 shares during the period. Parametric Portfolio Associates LLC’s holdings in Abraxas Petroleum Corporation were worth $457,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. TFS Capital LLC raised its position in Abraxas Petroleum Corporation by 234.3% in the first quarter. TFS Capital LLC now owns 121,073 shares of the energy company’s stock valued at $245,000 after buying an additional 84,861 shares during the period. Bank of New York Mellon Corp raised its position in Abraxas Petroleum Corporation by 28.5% in the first quarter. Bank of New York Mellon Corp now owns 627,965 shares of the energy company’s stock valued at $1,269,000 after buying an additional 139,270 shares during the period. Sigma Planning Corp raised its stake in shares of Abraxas Petroleum Corporation by 25.8% in the first quarter. Sigma Planning Corp now owns 428,900 shares of the energy company’s stock worth $866,000 after buying an additional 87,850 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Abraxas Petroleum Corporation by 59.4% in the first quarter. Nationwide Fund Advisors now owns 706,463 shares of the energy company’s stock worth $1,427,000 after buying an additional 263,175 shares during the last quarter. Finally, CAPROCK Group Inc. acquired a new stake in shares of Abraxas Petroleum Corporation during the first quarter worth $107,000. Institutional investors own 43.41% of the company’s stock.
Shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) opened at 1.70 on Friday. Abraxas Petroleum Corporation has a 12-month low of $1.29 and a 12-month high of $2.99. The company’s 50 day moving average price is $1.66 and its 200-day moving average price is $1.90. The firm has a market cap of $276.01 million, a P/E ratio of 20.24 and a beta of 1.42.
Abraxas Petroleum Corporation (NASDAQ:AXAS) last issued its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.01. The company had revenue of $13.15 million for the quarter, compared to analyst estimates of $16.70 million. Abraxas Petroleum Corporation had a return on equity of 7.68% and a net margin of 18.14%. On average, equities research analysts anticipate that Abraxas Petroleum Corporation will post $0.14 EPS for the current year.
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A number of brokerages have recently weighed in on AXAS. Zacks Investment Research upgraded Abraxas Petroleum Corporation from a “strong sell” rating to a “hold” rating in a research note on Friday. Seaport Global Securities upgraded Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $2.00 to $2.50 in a research note on Friday, August 11th. TheStreet upgraded Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a research note on Tuesday, August 8th. BidaskClub lowered Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Canaccord Genuity started coverage on Abraxas Petroleum Corporation in a report on Monday, July 24th. They set a “buy” rating and a $2.50 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Abraxas Petroleum Corporation presently has an average rating of “Buy” and a consensus target price of $2.61.
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.
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