Equities analysts forecast that Abraxas Petroleum Corp. (NASDAQ:AXAS) will report earnings per share (EPS) of $0.04 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Abraxas Petroleum’s earnings. The lowest EPS estimate is ($0.01) and the highest is $0.11. Abraxas Petroleum reported earnings per share of $0.09 during the same quarter last year, which would suggest a negative year-over-year growth rate of 55.6%. The company is expected to report its next quarterly earnings report on Tuesday, May 14th.
On average, analysts expect that Abraxas Petroleum will report full-year earnings of $0.24 per share for the current year, with EPS estimates ranging from ($0.01) to $0.45. For the next year, analysts anticipate that the business will report earnings of $0.21 per share, with EPS estimates ranging from ($0.33) to $0.54. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Abraxas Petroleum.
Abraxas Petroleum (NASDAQ:AXAS) last posted its quarterly earnings data on Wednesday, March 13th. 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 net margin of 38.76% and a return on equity of 27.79%. The business had revenue of $36.00 million during the quarter, compared to analysts’ expectations of $32.13 million.
A number of research firms have weighed in on AXAS. Stephens initiated coverage on shares of Abraxas Petroleum in a report on Thursday, December 6th. They set a “weight” rating and a $3.00 price objective on the stock. Zacks Investment Research upgraded shares of Abraxas Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, November 27th. Finally, TheStreet upgraded shares of Abraxas Petroleum from a “d+” rating to a “c” rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $3.83.
In related news, CEO Robert L. G. Watson purchased 174,652 shares of the firm’s stock in a transaction on Monday, December 31st. The stock was purchased at an average price of $1.14 per share, for a total transaction of $199,103.28. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have bought a total of 357,884 shares of company stock valued at $407,816 in the last quarter. Company insiders own 5.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of AXAS. Portolan Capital Management LLC raised its position in shares of Abraxas Petroleum by 38.2% during the 4th quarter. Portolan Capital Management LLC now owns 6,804,579 shares of the energy company’s stock valued at $7,417,000 after acquiring an additional 1,881,556 shares in the last quarter. SCW Capital Management LP acquired a new position in shares of Abraxas Petroleum during the fourth quarter valued at $1,703,000. Dimensional Fund Advisors LP increased its holdings in shares of Abraxas Petroleum by 25.3% during the third quarter. Dimensional Fund Advisors LP now owns 5,301,088 shares of the energy company’s stock valued at $12,351,000 after purchasing an additional 1,069,761 shares during the period. LSV Asset Management increased its holdings in shares of Abraxas Petroleum by 902.9% during the third quarter. LSV Asset Management now owns 833,400 shares of the energy company’s stock valued at $1,941,000 after purchasing an additional 750,300 shares during the period. Finally, Intrinsic Edge Capital Management LLC boosted its stake in Abraxas Petroleum by 100.0% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 1,000,000 shares of the energy company’s stock valued at $1,090,000 after buying an additional 500,000 shares in the last quarter. 55.56% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:AXAS traded down $0.08 during mid-day trading on Wednesday, hitting $1.25. The stock had a trading volume of 47,359 shares, compared to its average volume of 1,000,768. The stock has a market cap of $222.02 million, a price-to-earnings ratio of 7.17 and a beta of 1.51. Abraxas Petroleum has a twelve month low of $0.90 and a twelve month high of $3.27. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.82.
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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