Smith Asset Management Group LP increased its position in shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) by 8.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 536,310 shares of the energy company’s stock after buying an additional 42,921 shares during the period. Smith Asset Management Group LP’s holdings in Abraxas Petroleum Corp. were worth $606,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sigma Planning Corp raised its position in Abraxas Petroleum Corp. by 5.3% in the second quarter. Sigma Planning Corp now owns 326,400 shares of the energy company’s stock worth $369,000 after buying an additional 16,400 shares during the period. Thomson Horstmann & Bryant Inc. raised its position in Abraxas Petroleum Corp. by 18.5% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 2,222,240 shares of the energy company’s stock worth $2,511,000 after buying an additional 347,100 shares during the period. Finally, Geode Capital Management LLC raised its position in Abraxas Petroleum Corp. by 1.3% in the first quarter. Geode Capital Management LLC now owns 606,301 shares of the energy company’s stock worth $612,000 after buying an additional 7,965 shares during the period. 37.98% of the stock is owned by institutional investors.
Abraxas Petroleum Corp. (NASDAQ:AXAS) traded up 0.63% during trading on Monday, hitting $1.60. The stock had a trading volume of 591,688 shares. Abraxas Petroleum Corp. has a 52-week low of $0.65 and a 52-week high of $1.95. The firm’s market cap is $213.59 million. The company’s 50 day moving average is $1.45 and its 200 day moving average is $1.23.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last announced its quarterly earnings results on Wednesday, August 10th. The energy company reported ($0.45) earnings per share (EPS) for the quarter. The firm earned $11 million during the quarter, compared to analysts’ expectations of $18.94 million. Abraxas Petroleum Corp. had a negative net margin of 415.24% and a negative return on equity of 15.56%. The company’s revenue for the quarter was down 41.9% compared to the same quarter last year. Equities research analysts forecast that Abraxas Petroleum Corp. will post ($0.11) earnings per share for the current year.
A number of research analysts recently weighed in on the company. Canaccord Genuity set a $2.00 price objective on Abraxas Petroleum Corp. and gave the company a “buy” rating in a research report on Tuesday, September 20th. Zacks Investment Research downgraded Abraxas Petroleum Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Finally, Ladenburg Thalmann initiated coverage on Abraxas Petroleum Corp. in a research note on Wednesday, July 13th. They set a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $1.46.
Abraxas Petroleum Corp. 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. The Company’s estimated net proved reserves are approximately 43.2 million barrels of oil equivalent (MMBoe), of which over 38% are classified as proved developed, approximately 71% are oil and natural gas liquids (NGL), and approximately 95% of which (on a PV-10 basis) are operated by the Company.
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