Abraxas Petroleum (AXAS) Trading Up 5.4%

Abraxas Petroleum Corp. (NASDAQ:AXAS) was up 5.4% during mid-day trading on Wednesday . The stock traded as high as $1.22 and last traded at $1.18. Approximately 1,068,119 shares were traded during mid-day trading, an increase of 13% from the average daily volume of 948,491 shares. The stock had previously closed at $1.12.

Several equities research analysts recently issued reports on AXAS shares. ValuEngine downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded Abraxas Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. BidaskClub downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 6th. Finally, Stephens started coverage on Abraxas Petroleum in a research note on Thursday, December 6th. They issued a “weight” rating and a $3.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $3.83.

The company has a debt-to-equity ratio of 1.35, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market capitalization of $191.60 million, a price-to-earnings ratio of 9.83 and a beta of 1.51.

In other news, CEO Robert L. G. Watson purchased 174,652 shares of the business’s stock in a transaction dated Monday, December 31st. The stock was bought at an average cost of $1.14 per share, with a total value of $199,103.28. Following the purchase, the chief executive officer now directly owns 1,394,867 shares of the company’s stock, valued at $1,590,148.38. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 357,884 shares of company stock valued at $407,816 over the last ninety days. Company insiders own 5.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. raised its stake in shares of Abraxas Petroleum by 96.2% during the 4th quarter. Prudential Financial Inc. now owns 24,021 shares of the energy company’s stock worth $26,000 after purchasing an additional 11,776 shares in the last quarter. Inspirion Wealth Advisors LLC raised its stake in shares of Abraxas Petroleum by 23.6% during the 4th quarter. Inspirion Wealth Advisors LLC now owns 51,020 shares of the energy company’s stock worth $56,000 after purchasing an additional 9,750 shares in the last quarter. Mycio Wealth Partners LLC raised its stake in shares of Abraxas Petroleum by 17.0% during the 4th quarter. Mycio Wealth Partners LLC now owns 75,686 shares of the energy company’s stock worth $82,000 after purchasing an additional 11,000 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Abraxas Petroleum during the 4th quarter worth about $83,000. Finally, Bank of America Corp DE raised its stake in shares of Abraxas Petroleum by 99.1% during the 2nd quarter. Bank of America Corp DE now owns 79,151 shares of the energy company’s stock worth $228,000 after purchasing an additional 39,393 shares in the last quarter. 57.51% of the stock is owned by institutional investors.

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Abraxas Petroleum Company Profile (NASDAQ:AXAS)

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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