Brokerages expect Abraxas Petroleum Corporation (NASDAQ:AXAS) to announce $0.03 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Abraxas Petroleum Corporation’s earnings, with estimates ranging from $0.03 to $0.04. Abraxas Petroleum Corporation posted earnings of ($0.02) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 250%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 14th.

On average, analysts expect that Abraxas Petroleum Corporation will report full-year earnings of $0.13 per share for the current fiscal year, with EPS estimates ranging from $0.11 to $0.14. For the next year, analysts expect that the firm will post earnings of $0.13 per share, with EPS estimates ranging from $0.08 to $0.15. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Abraxas Petroleum Corporation.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last released its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.01. Abraxas Petroleum Corporation had a return on equity of 7.68% and a net margin of 18.14%. The firm had revenue of $13.15 million for the quarter, compared to the consensus estimate of $16.70 million.

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A number of research firms have weighed in on AXAS. Seaport Global Securities raised shares of Abraxas Petroleum Corporation from a “neutral” rating to a “buy” rating and increased their target price for the company from $2.00 to $2.50 in a research report on Friday. TheStreet raised shares of Abraxas Petroleum Corporation from a “d” rating to a “c-” rating in a research report on Tuesday. BidaskClub downgraded shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research downgraded shares of Abraxas Petroleum Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Canaccord Genuity began coverage on shares of Abraxas Petroleum Corporation in a research report on Monday, July 24th. They set a “buy” rating and a $2.50 price objective for the company. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Abraxas Petroleum Corporation currently has an average rating of “Hold” and an average price target of $2.61.

Abraxas Petroleum Corporation (NASDAQ AXAS) traded up 4.97% on Friday, reaching $1.69. 1,851,508 shares of the company traded hands. The stock has a market capitalization of $274.38 million, a PE ratio of 20.12 and a beta of 1.42. The firm has a 50 day moving average of $1.64 and a 200-day moving average of $1.93. Abraxas Petroleum Corporation has a one year low of $1.31 and a one year high of $2.99.

Several institutional investors have recently modified their holdings of the company. Van ECK Associates Corp purchased a new position in shares of Abraxas Petroleum Corporation during the first quarter worth about $2,616,000. Oxford Asset Management purchased a new position in shares of Abraxas Petroleum Corporation during the first quarter worth about $261,000. Formula Growth Ltd. purchased a new position in shares of Abraxas Petroleum Corporation during the first quarter worth about $5,878,000. TFS Capital LLC boosted its position in shares of Abraxas Petroleum Corporation by 234.3% in the first quarter. TFS Capital LLC now owns 121,073 shares of the energy company’s stock worth $245,000 after buying an additional 84,861 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its position in shares of Abraxas Petroleum Corporation by 92.2% in the first quarter. Tudor Investment Corp ET AL now owns 79,586 shares of the energy company’s stock worth $161,000 after buying an additional 38,179 shares in the last quarter. Institutional investors own 43.35% of the company’s stock.

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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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