Wall Street brokerages forecast that Abraxas Petroleum Corp. (NASDAQ:AXAS) will announce $31.30 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Abraxas Petroleum’s earnings, with the lowest sales estimate coming in at $29.40 million and the highest estimate coming in at $33.20 million. Abraxas Petroleum posted sales of $40.63 million during the same quarter last year, which suggests a negative year over year growth rate of 23%. The firm is expected to report its next earnings results after the market closes on Monday, May 6th.
On average, analysts expect that Abraxas Petroleum will report full-year sales of $155.37 million for the current financial year, with estimates ranging from $149.30 million to $160.00 million. For the next financial year, analysts expect that the business will report sales of $185.37 million, with estimates ranging from $172.00 million to $200.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Abraxas Petroleum.
Abraxas Petroleum (NASDAQ:AXAS) last released its earnings results on Wednesday, March 13th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Abraxas Petroleum had a return on equity of 24.46% and a net margin of 38.76%. The company had revenue of $36.00 million during the quarter, compared to analysts’ expectations of $32.13 million.
A number of research firms have issued reports on AXAS. Zacks Investment Research downgraded shares of Abraxas Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. ValuEngine upgraded shares of Abraxas Petroleum from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 9th. Finally, TheStreet upgraded shares of Abraxas Petroleum from a “d+” rating to a “c” rating in a research report on Thursday, March 14th. Three research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $3.83.
AXAS stock remained flat at $$1.41 during midday trading on Friday. 919,913 shares of the company’s stock were exchanged, compared to its average volume of 1,035,308. Abraxas Petroleum has a 12 month low of $0.90 and a 12 month high of $3.27. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.10. The stock has a market cap of $235.66 million, a P/E ratio of 7.83 and a beta of 1.51.
Several institutional investors have recently added to or reduced their stakes in the company. Inspirion Wealth Advisors LLC raised its holdings in shares of Abraxas Petroleum by 23.6% during the 4th quarter. Inspirion Wealth Advisors LLC now owns 51,020 shares of the energy company’s stock valued at $56,000 after purchasing an additional 9,750 shares in the last quarter. Mycio Wealth Partners LLC raised its holdings in shares of Abraxas Petroleum by 17.0% during the 4th quarter. Mycio Wealth Partners LLC now owns 75,686 shares of the energy company’s stock valued at $82,000 after purchasing an additional 11,000 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Abraxas Petroleum by 96.2% during the 4th quarter. Prudential Financial Inc. now owns 24,021 shares of the energy company’s stock valued at $26,000 after purchasing an additional 11,776 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Abraxas Petroleum by 25.4% during the 4th quarter. Citigroup Inc. now owns 101,856 shares of the energy company’s stock valued at $111,000 after purchasing an additional 20,647 shares in the last quarter. Finally, Amalgamated Bank bought a new position in shares of Abraxas Petroleum during the 4th quarter valued at $26,000. Institutional investors and hedge funds own 55.49% 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.
Featured Story: Does the discount rate affect the economy?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Abraxas Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abraxas Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.