Analysts expect that Abraxas Petroleum Corp. (NASDAQ:AXAS) will report $31.70 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Abraxas Petroleum’s earnings, with the highest sales estimate coming in at $33.40 million and the lowest estimate coming in at $30.00 million. Abraxas Petroleum posted sales of $29.59 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.1%. The firm is expected to announce its next earnings report on Tuesday, March 12th.
According to Zacks, analysts expect that Abraxas Petroleum will report full year sales of $144.90 million for the current fiscal year, with estimates ranging from $143.20 million to $146.60 million. For the next fiscal year, analysts expect that the business will post sales of $145.35 million, with estimates ranging from $134.90 million to $155.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Abraxas Petroleum.
Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings data on Wednesday, November 7th. The energy company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Abraxas Petroleum had a negative net margin of 1.48% and a positive return on equity of 30.57%. The company had revenue of $41.63 million during the quarter, compared to analysts’ expectations of $33.37 million.
A number of research analysts have weighed in on AXAS shares. ValuEngine cut shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. BidaskClub lowered shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 6th. Zacks Investment Research lowered shares of Abraxas Petroleum from a “hold” rating to a “sell” rating in a research report on Monday, November 12th. Finally, Stephens initiated coverage on shares of Abraxas Petroleum in a research report on Thursday, December 6th. They issued a “weight” rating and a $3.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Abraxas Petroleum currently has a consensus rating of “Hold” and a consensus target price of $3.83.
AXAS traded up $0.04 on Monday, reaching $1.10. The stock had a trading volume of 1,413,933 shares, compared to its average volume of 793,209. Abraxas Petroleum has a 12-month low of $0.90 and a 12-month 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. The stock has a market capitalization of $183.26 million, a price-to-earnings ratio of 9.17 and a beta of 1.51.
In related news, CEO Robert L. G. Watson bought 174,652 shares of the company’s stock in a transaction dated Monday, December 31st. The shares were acquired at an average price of $1.14 per share, for a total transaction of $199,103.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Abraxas Petroleum by 1.3% in the third quarter. BlackRock Inc. now owns 11,784,472 shares of the energy company’s stock valued at $27,458,000 after purchasing an additional 151,020 shares during the period. Vanguard Group Inc boosted its position in Abraxas Petroleum by 0.8% during the third quarter. Vanguard Group Inc now owns 8,477,204 shares of the energy company’s stock worth $19,753,000 after acquiring an additional 63,202 shares during the last quarter. Vanguard Group Inc. boosted its position in Abraxas Petroleum by 0.8% during the third quarter. Vanguard Group Inc. now owns 8,477,204 shares of the energy company’s stock worth $19,753,000 after acquiring an additional 63,202 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Abraxas Petroleum by 25.3% during the third quarter. Dimensional Fund Advisors LP now owns 5,301,088 shares of the energy company’s stock worth $12,351,000 after acquiring an additional 1,069,761 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its position in Abraxas Petroleum by 2.7% during the third quarter. Heartland Advisors Inc. now owns 2,418,300 shares of the energy company’s stock worth $5,635,000 after acquiring an additional 62,500 shares during the last quarter. Institutional investors and hedge funds own 58.13% of the company’s stock.
Abraxas Petroleum Company 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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