Analysts forecast that Abraxas Petroleum Corp. (NASDAQ:AXAS) will report $0.08 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Abraxas Petroleum’s earnings. The lowest EPS estimate is $0.05 and the highest is $0.10. Abraxas Petroleum posted earnings per share of $0.04 in the same quarter last year, which indicates a positive year over year growth rate of 100%. The firm is expected to report its next quarterly earnings report on Tuesday, March 12th.
According to Zacks, analysts expect that Abraxas Petroleum will report full-year earnings of $0.23 per share for the current year, with EPS estimates ranging from $0.21 to $0.26. For the next fiscal year, analysts anticipate that the business will report earnings of $0.34 per share, with EPS estimates ranging from $0.14 to $0.55. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Abraxas Petroleum.
Abraxas Petroleum (NASDAQ:AXAS) last posted its quarterly earnings results on Wednesday, November 7th. The energy company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. Abraxas Petroleum had a positive return on equity of 30.57% and a negative net margin of 1.48%. The firm had revenue of $41.63 million during the quarter, compared to analyst estimates of $33.37 million.
AXAS has been the topic of a number of research reports. ValuEngine downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. BidaskClub downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 6th. Stephens initiated coverage on Abraxas Petroleum in a research report on Thursday, December 6th. They set a “weight” rating and a $3.00 price target on the stock. Finally, Zacks Investment Research upgraded Abraxas Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, November 27th. Three equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $3.83.
NASDAQ:AXAS traded down $0.03 during trading hours on Thursday, hitting $1.41. 15,292 shares of the company’s stock traded hands, compared to its average volume of 1,352,200. The firm has a market capitalization of $224.92 million, a price-to-earnings ratio of 11.67 and a beta of 1.50. Abraxas Petroleum has a 52 week low of $0.90 and a 52 week high of $3.27. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.49.
In other news, CEO Robert L. G. Watson purchased 174,652 shares of the stock in a transaction on Tuesday, December 31st. The shares were acquired at an average price of $1.14 per share, for a total transaction of $199,103.28. Following the completion of the transaction, the chief executive officer now directly owns 1,394,867 shares of the company’s stock, valued at approximately $1,590,148.38. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zebra Capital Management LLC purchased a new position in shares of Abraxas Petroleum in the second quarter worth about $130,000. Salem Investment Counselors Inc. purchased a new position in shares of Abraxas Petroleum in the second quarter worth about $154,000. Cubist Systematic Strategies LLC increased its holdings in shares of Abraxas Petroleum by 301.5% in the second quarter. Cubist Systematic Strategies LLC now owns 56,052 shares of the energy company’s stock worth $162,000 after buying an additional 42,090 shares during the period. Bank of America Corp DE increased its holdings in shares of Abraxas Petroleum by 99.1% in the second quarter. Bank of America Corp DE now owns 79,151 shares of the energy company’s stock worth $228,000 after buying an additional 39,393 shares during the period. Finally, Hodges Capital Management Inc. purchased a new position in shares of Abraxas Petroleum in the third quarter worth about $582,000. Institutional investors and hedge funds own 58.47% of the company’s stock.
About Abraxas Petroleum
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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