Abraxas Petroleum (NASDAQ:AXAS) posted its quarterly earnings data on Tuesday. The energy company reported $0.04 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04, Briefing.com reports. Abraxas Petroleum had a net margin of 18.83% and a return on equity of 17.00%. The company had revenue of $29.60 million during the quarter, compared to analysts’ expectations of $28.86 million. During the same period in the prior year, the company posted $0.01 earnings per share. Abraxas Petroleum’s revenue for the quarter was up 34.5% compared to the same quarter last year.
Abraxas Petroleum (NASDAQ:AXAS) traded up $0.04 during trading hours on Tuesday, reaching $2.36. 778,049 shares of the company’s stock were exchanged, compared to its average volume of 1,000,000. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market capitalization of $391.50, a PE ratio of 26.22 and a beta of 1.44. Abraxas Petroleum has a 1-year low of $1.45 and a 1-year high of $2.74.
Several research firms have recently weighed in on AXAS. Canaccord Genuity reiterated a “buy” rating and set a $3.00 price objective on shares of Abraxas Petroleum in a research report on Wednesday, January 24th. BidaskClub upgraded shares of Abraxas Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. Stifel Nicolaus increased their price objective on shares of Abraxas Petroleum from $3.10 to $3.30 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Robert W. Baird upgraded shares of Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 price objective for the company in a research report on Tuesday, December 19th. Finally, Zacks Investment Research cut shares of Abraxas Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Abraxas Petroleum currently has an average rating of “Buy” and a consensus target price of $2.91.
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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