TFS Capital LLC boosted its stake in shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) by 234.3% during the first quarter, Holdings Channel reports. The institutional investor owned 121,073 shares of the energy company’s stock after buying an additional 84,861 shares during the period. TFS Capital LLC’s holdings in Abraxas Petroleum Corp. were worth $245,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in AXAS. Cadence Capital Management LLC increased its stake in shares of 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. Tudor Investment Corp Et Al purchased a new stake in shares of Abraxas Petroleum Corp. during the fourth quarter valued at approximately $106,000. CAPROCK Group Inc. purchased a new stake in shares of Abraxas Petroleum Corp. during the first quarter valued at approximately $107,000. Baker Avenue Asset Management LP increased its stake in shares of 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. Finally, Sigma Planning Corp increased its stake in shares of Abraxas Petroleum Corp. by 25.8% in the first quarter. Sigma Planning Corp now owns 428,900 shares of the energy company’s stock valued at $866,000 after buying an additional 87,850 shares in the last quarter. Institutional investors own 35.17% of the company’s stock.
Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) traded up 1.08% during trading on Monday, reaching $1.88. 584,608 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $1.95 and a 200 day moving average price of $2.14. The firm’s market cap is $305.23 million. Abraxas Petroleum Corp. has a 12 month low of $0.98 and a 12 month high of $2.99.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last released its quarterly earnings results on Tuesday, May 9th. The energy company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. Abraxas Petroleum Corp. had a negative net margin of 330.92% and a negative return on equity of 28.12%. The firm had revenue of $18.80 million during the quarter, compared to analyst estimates of $19.87 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 95.8% compared to the same quarter last year. On average, analysts forecast that Abraxas Petroleum Corp. will post $0.13 EPS for the current year.
Several analysts have recently commented on the stock. Canaccord Genuity set a $3.00 target price on shares of Abraxas Petroleum Corp. and gave the company a “buy” rating in a report on Saturday, February 11th. Seaport Global Securities upgraded shares of Abraxas Petroleum Corp. from an “accumulate” rating to a “buy” rating in a report on Wednesday, February 1st. Finally, Zacks Investment Research downgraded shares of Abraxas Petroleum Corp. from a “buy” rating to a “hold” rating in a report on Monday, March 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Abraxas Petroleum Corp. currently has a consensus rating of “Buy” and an average price target of $2.83.
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. 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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