Abraxas Petroleum Corporation (AXAS) Position Boosted by Rhumbline Advisers

Rhumbline Advisers boosted its position in shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,768 shares of the energy company’s stock after acquiring an additional 9,300 shares during the period. Rhumbline Advisers owned 0.10% of Abraxas Petroleum Corporation worth $264,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its stake in Abraxas Petroleum Corporation by 35.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 565,819 shares of the energy company’s stock valued at $1,143,000 after acquiring an additional 149,062 shares in the last quarter. Vanguard Group Inc. grew its stake in Abraxas Petroleum Corporation by 42.1% during the first quarter. Vanguard Group Inc. now owns 7,216,245 shares of the energy company’s stock valued at $14,577,000 after acquiring an additional 2,136,606 shares in the last quarter. Oxford Asset Management purchased a new position in Abraxas Petroleum Corporation during the first quarter valued at approximately $261,000. Tudor Investment Corp ET AL grew its stake in Abraxas Petroleum Corporation by 92.2% during the first quarter. Tudor Investment Corp ET AL now owns 79,586 shares of the energy company’s stock valued at $161,000 after acquiring an additional 38,179 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in Abraxas Petroleum Corporation by 716.8% during the first quarter. Citadel Advisors LLC now owns 415,792 shares of the energy company’s stock valued at $840,000 after acquiring an additional 364,890 shares in the last quarter. 44.49% of the stock is owned by institutional investors.

AXAS has been the subject of several research analyst reports. Seaport Global Securities lowered shares of Abraxas Petroleum Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $3.25 to $2.00 in a research report on Wednesday, June 21st. Canaccord Genuity reiterated a “buy” rating and set a $3.00 target price on shares of Abraxas Petroleum Corporation in a research report on Tuesday, July 4th. Stifel Nicolaus reiterated a “buy” rating and set a $2.40 target price on shares of Abraxas Petroleum Corporation in a research report on Friday, July 14th. Zacks Investment Research lowered shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, BidaskClub lowered shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $2.54.

Shares of Abraxas Petroleum Corporation (NASDAQ AXAS) opened at 1.87 on Friday. Abraxas Petroleum Corporation has a 12 month low of $1.45 and a 12 month high of $2.99. The firm’s 50-day moving average is $1.80 and its 200 day moving average is $1.80. The company has a market capitalization of $303.61 million, a price-to-earnings ratio of 22.26 and a beta of 1.46.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last announced its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Abraxas Petroleum Corporation had a net margin of 18.14% and a return on equity of 7.68%. The company had revenue of $13.15 million for the quarter, compared to analysts’ expectations of $16.70 million. Equities analysts expect that Abraxas Petroleum Corporation will post $0.14 EPS for the current year.

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Abraxas Petroleum Corporation 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.

Institutional Ownership by Quarter for Abraxas Petroleum Corporation (NASDAQ:AXAS)

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