Two Sigma Investments LP purchased a new stake in shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) during the fourth quarter, Holdings Channel reports. The fund purchased 610,581 shares of the energy company’s stock, valued at approximately $1,569,000.
Several other large investors also recently bought and sold shares of AXAS. Renaissance Technologies LLC bought a new stake in Abraxas Petroleum Corp. during the fourth quarter valued at approximately $1,021,000. Allianz Asset Management AG bought a new stake in Abraxas Petroleum Corp. during the fourth quarter valued at approximately $378,000. State Street Corp boosted its stake in Abraxas Petroleum Corp. by 8.9% in the fourth quarter. State Street Corp now owns 1,770,869 shares of the energy company’s stock valued at $4,549,000 after buying an additional 144,078 shares in the last quarter. Cadence Capital Management LLC boosted its stake in Abraxas Petroleum Corp. by 2.5% in the fourth quarter. Cadence Capital Management LLC now owns 366,690 shares of the energy company’s stock valued at $942,000 after buying an additional 8,964 shares in the last quarter. Finally, Baker Avenue Asset Management LP boosted its stake in Abraxas Petroleum Corp. by 92.1% in the third quarter. Baker Avenue Asset Management LP now owns 144,100 shares of the energy company’s stock valued at $244,000 after buying an additional 69,100 shares in the last quarter. 35.17% of the stock is owned by hedge funds and other institutional investors.
Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) opened at 1.97 on Monday. Abraxas Petroleum Corp. has a 1-year low of $0.89 and a 1-year high of $2.99. The firm’s 50-day moving average price is $2.17 and its 200 day moving average price is $2.04. The firm’s market cap is $263.16 million.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last announced its quarterly earnings results on Tuesday, March 14th. The energy company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $22 million for the quarter, compared to analyst estimates of $20.19 million. Abraxas Petroleum Corp. had a negative return on equity of 28.12% and a negative net margin of 330.92%. The company’s quarterly revenue was up 65.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.02) EPS. On average, equities research analysts forecast that Abraxas Petroleum Corp. will post $0.15 EPS for the current fiscal year.
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Several research firms recently commented on AXAS. Zacks Investment Research raised Abraxas Petroleum Corp. from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a report on Friday. Canaccord Genuity set a $3.00 price target on Abraxas Petroleum Corp. and gave the company a “buy” rating in a report on Tuesday, March 14th. Seaport Global Securities raised Abraxas Petroleum Corp. from an “accumulate” rating to a “buy” rating in a report on Wednesday, February 1st. Finally, Stifel Nicolaus raised Abraxas Petroleum Corp. from a “hold” rating to a “buy” rating and increased their price target for the company from $3.00 to $3.50 in a report on Friday, January 20th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Abraxas Petroleum Corp. has a consensus rating of “Buy” and an average target price of $2.64.
About Abraxas Petroleum Corp.
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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