Monarch Partners Asset Management LLC boosted its holdings in shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) by 22.4% during the third quarter, Holdings Channel.com reports. The firm owned 472,592 shares of the energy company’s stock after acquiring an additional 86,640 shares during the period. Monarch Partners Asset Management LLC’s holdings in Abraxas Petroleum were worth $240,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in AXAS. Heartland Advisors Inc. raised its stake in Abraxas Petroleum by 47.8% during the second quarter. Heartland Advisors Inc. now owns 3,555,200 shares of the energy company’s stock valued at $3,662,000 after purchasing an additional 1,150,200 shares in the last quarter. Sigma Planning Corp raised its stake in Abraxas Petroleum by 25.4% during the third quarter. Sigma Planning Corp now owns 907,900 shares of the energy company’s stock valued at $461,000 after purchasing an additional 184,000 shares in the last quarter. CWM LLC raised its stake in Abraxas Petroleum by 59.7% during the third quarter. CWM LLC now owns 420,266 shares of the energy company’s stock valued at $213,000 after purchasing an additional 157,152 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Abraxas Petroleum during the third quarter valued at $61,000. Finally, BlackRock Inc. increased its position in Abraxas Petroleum by 1.0% during the second quarter. BlackRock Inc. now owns 11,604,693 shares of the energy company’s stock valued at $11,953,000 after acquiring an additional 112,823 shares during the last quarter. 51.33% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the stock. Seaport Global Securities cut shares of Abraxas Petroleum from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. LADENBURG THALM/SH SH cut shares of Abraxas Petroleum from a “buy” rating to a “neutral” rating and cut their price objective for the company from $2.00 to $1.00 in a research report on Monday, August 26th. Zacks Investment Research cut shares of Abraxas Petroleum from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 29th. Finally, ValuEngine cut shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $2.00.
AXAS stock traded up $0.01 during mid-day trading on Friday, reaching $0.27. 2,064,400 shares of the stock traded hands, compared to its average volume of 1,132,879. The stock has a market capitalization of $48.68 million, a PE ratio of 1.50 and a beta of 1.69. The business has a 50-day moving average price of $0.39 and a two-hundred day moving average price of $0.79. Abraxas Petroleum Corp. has a one year low of $0.26 and a one year high of $1.87. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.47 and a current ratio of 0.47.
Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.02). The firm had revenue of $34.82 million for the quarter, compared to analysts’ expectations of $33.00 million. Abraxas Petroleum had a net margin of 29.82% and a return on equity of 13.62%. On average, equities analysts expect that Abraxas Petroleum Corp. will post 0.11 earnings per share for the current fiscal year.
Abraxas Petroleum 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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