Strs Ohio Purchases New Stake in Abraxas Petroleum Corp. (AXAS)

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Strs Ohio purchased a new stake in shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 176,900 shares of the energy company’s stock, valued at approximately $511,000. Strs Ohio owned 0.11% of Abraxas Petroleum as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN lifted its holdings in shares of Abraxas Petroleum by 12.3% in the first quarter. Wells Fargo & Company MN now owns 501,393 shares of the energy company’s stock worth $1,113,000 after buying an additional 54,905 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Abraxas Petroleum by 29.3% in the first quarter. Thrivent Financial for Lutherans now owns 648,178 shares of the energy company’s stock worth $1,439,000 after buying an additional 146,857 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Abraxas Petroleum in the first quarter worth $156,000. Heartland Advisors Inc. lifted its holdings in shares of Abraxas Petroleum by 32.2% in the first quarter. Heartland Advisors Inc. now owns 2,199,500 shares of the energy company’s stock worth $4,883,000 after buying an additional 535,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Abraxas Petroleum by 113.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,704,748 shares of the energy company’s stock worth $6,005,000 after buying an additional 1,438,229 shares in the last quarter. Institutional investors own 59.73% of the company’s stock.

Several equities analysts have recently commented on AXAS shares. Seaport Global Securities reissued a “buy” rating on shares of Abraxas Petroleum in a report on Friday, July 20th. Stifel Nicolaus set a $5.00 target price on shares of Abraxas Petroleum and gave the stock a “buy” rating in a report on Thursday, July 19th. BidaskClub downgraded shares of Abraxas Petroleum from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 31st. Canaccord Genuity reissued a “buy” rating and issued a $3.50 target price on shares of Abraxas Petroleum in a report on Tuesday, August 28th. Finally, TheStreet downgraded shares of Abraxas Petroleum from a “c” rating to a “d+” rating in a report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $3.44.

Abraxas Petroleum stock opened at $2.15 on Friday. The firm has a market cap of $355.10 million, a P/E ratio of 11.21 and a beta of 1.05. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.07. Abraxas Petroleum Corp. has a 52-week low of $1.59 and a 52-week high of $3.27.

Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings results on Tuesday, August 7th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.03). The business had revenue of $30.92 million for the quarter, compared to analysts’ expectations of $31.93 million. Abraxas Petroleum had a negative net margin of 3.70% and a positive return on equity of 28.33%. equities research analysts predict that Abraxas Petroleum Corp. will post 0.28 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Abraxas Petroleum (NASDAQ:AXAS)

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