FY2017 Earnings Forecast for Abraxas Petroleum Corp. (NASDAQ:AXAS) Issued By Seaport Global Securities

Abraxas Petroleum Corp. (NASDAQ:AXAS) – Equities research analysts at Seaport Global Securities lowered their FY2017 earnings per share (EPS) estimates for shares of Abraxas Petroleum in a research note issued to investors on Monday, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now anticipates that the energy company will post earnings of $0.13 per share for the year, down from their prior estimate of $0.15. Seaport Global Securities also issued estimates for Abraxas Petroleum’s Q1 2018 earnings at $0.09 EPS, Q3 2018 earnings at $0.11 EPS, Q4 2018 earnings at $0.12 EPS and FY2018 earnings at $0.42 EPS.

AXAS has been the topic of a number of other research reports. BidaskClub upgraded shares of Abraxas Petroleum from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Robert W. Baird upgraded shares of Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 price target on the stock in a research note on Tuesday, December 19th. Canaccord Genuity restated a “buy” rating and set a $3.00 price target on shares of Abraxas Petroleum in a research note on Wednesday, January 24th. Zacks Investment Research lowered shares of Abraxas Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Stifel Nicolaus upped their price target on shares of Abraxas Petroleum from $3.10 to $3.30 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $2.81.

Shares of Abraxas Petroleum (NASDAQ AXAS) traded up $0.01 during trading on Tuesday, reaching $2.14. 1,133,900 shares of the company’s stock were exchanged, compared to its average volume of 1,236,533. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48. Abraxas Petroleum has a twelve month low of $1.45 and a twelve month high of $2.74. The firm has a market cap of $355.00, a price-to-earnings ratio of 23.78 and a beta of 1.39.

Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in shares of Abraxas Petroleum by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 162,768 shares of the energy company’s stock valued at $264,000 after acquiring an additional 9,300 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Abraxas Petroleum by 24.5% in the 2nd quarter. Voya Investment Management LLC now owns 73,546 shares of the energy company’s stock valued at $119,000 after acquiring an additional 14,483 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Abraxas Petroleum by 6.2% in the 2nd quarter. Teachers Advisors LLC now owns 270,123 shares of the energy company’s stock valued at $438,000 after acquiring an additional 15,828 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Abraxas Petroleum by 5.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 382,708 shares of the energy company’s stock valued at $620,000 after acquiring an additional 20,261 shares during the last quarter. Finally, Sigma Planning Corp boosted its holdings in shares of Abraxas Petroleum by 4.2% in the 3rd quarter. Sigma Planning Corp now owns 577,700 shares of the energy company’s stock valued at $1,086,000 after acquiring an additional 23,500 shares during the last quarter. 47.54% of the stock is currently owned by institutional investors and hedge funds.

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Abraxas Petroleum Company Profile

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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