Monarch Partners Asset Management LLC boosted its stake in Abraxas Petroleum Corp. (NASDAQ:AXAS) by 12.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 385,952 shares of the energy company’s stock after acquiring an additional 42,770 shares during the period. Monarch Partners Asset Management LLC owned 0.23% of Abraxas Petroleum worth $398,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Mckinley Capital Management LLC Delaware raised its position in shares of Abraxas Petroleum by 108.4% in the first quarter. Mckinley Capital Management LLC Delaware now owns 20,915 shares of the energy company’s stock valued at $27,000 after purchasing an additional 10,877 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Abraxas Petroleum by 57,277.6% in the first quarter. BNP Paribas Arbitrage SA now owns 33,279 shares of the energy company’s stock valued at $42,000 after purchasing an additional 33,221 shares during the period. Spark Investment Management LLC bought a new stake in shares of Abraxas Petroleum in the first quarter valued at approximately $93,000. Bank of America Corp DE raised its position in shares of Abraxas Petroleum by 29.4% in the fourth quarter. Bank of America Corp DE now owns 104,021 shares of the energy company’s stock valued at $114,000 after purchasing an additional 23,616 shares during the period. Finally, WINTON GROUP Ltd raised its position in shares of Abraxas Petroleum by 44.3% in the second quarter. WINTON GROUP Ltd now owns 160,331 shares of the energy company’s stock valued at $165,000 after purchasing an additional 49,218 shares during the period. 51.91% of the stock is currently owned by institutional investors and hedge funds.
Abraxas Petroleum stock traded up $0.08 during midday trading on Thursday, reaching $0.57. 39,953 shares of the stock were exchanged, compared to its average volume of 1,398,192. The company’s fifty day moving average is $0.75 and its 200-day moving average is $1.10. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market cap of $85.07 million, a PE ratio of 3.11 and a beta of 1.67. Abraxas Petroleum Corp. has a 52 week low of $0.43 and a 52 week high of $2.57.
Abraxas Petroleum (NASDAQ:AXAS) last posted its earnings results on Wednesday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). The firm had revenue of $34.82 million for the quarter, compared to the consensus estimate of $33.00 million. Abraxas Petroleum had a return on equity of 13.62% and a net margin of 29.82%. On average, sell-side analysts anticipate that Abraxas Petroleum Corp. will post 0.15 earnings per share for the current fiscal year.
Several analysts have recently issued reports on the stock. LADENBURG THALM/SH SH lowered shares of Abraxas Petroleum from a “buy” rating to a “neutral” rating and lowered their price target for the company from $2.00 to $1.00 in a research report on Monday. Zacks Investment Research raised shares of Abraxas Petroleum from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Finally, Seaport Global Securities reissued a “buy” rating on shares of Abraxas Petroleum in a research report on Friday, June 21st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.00.
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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