Wall Street analysts forecast that Abraxas Petroleum Corp. (NASDAQ:AXAS) will announce $43.10 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Abraxas Petroleum’s earnings, with the lowest sales estimate coming in at $42.00 million and the highest estimate coming in at $44.40 million. Abraxas Petroleum posted sales of $29.59 million in the same quarter last year, which suggests a positive year over year growth rate of 45.7%. The company is scheduled to report its next quarterly earnings results on Tuesday, March 12th.
On average, analysts expect that Abraxas Petroleum will report full-year sales of $152.53 million for the current financial year, with estimates ranging from $144.00 million to $157.60 million. For the next fiscal year, analysts forecast that the firm will post sales of $168.57 million, with estimates ranging from $134.50 million to $191.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Abraxas Petroleum.
Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings results on Wednesday, November 7th. The energy company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The business had revenue of $41.63 million during the quarter, compared to the consensus estimate of $33.37 million. Abraxas Petroleum had a positive return on equity of 30.57% and a negative net margin of 1.48%.
AXAS has been the subject of several recent research reports. ValuEngine downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. BidaskClub downgraded Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 6th. Zacks Investment Research downgraded Abraxas Petroleum from a “hold” rating to a “sell” rating in a research note on Monday, November 12th. Finally, Stephens initiated coverage on Abraxas Petroleum in a research note on Thursday, December 6th. They issued a “weight” rating and a $3.00 price target for the company. Three analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Abraxas Petroleum presently has an average rating of “Hold” and an average target price of $3.83.
AXAS opened at $1.35 on Friday. The firm has a market capitalization of $239.91 million, a P/E ratio of 11.25 and a beta of 1.50. Abraxas Petroleum has a 1 year low of $0.90 and a 1 year high of $3.27. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.35.
In related news, CEO Robert L. G. Watson acquired 174,652 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was purchased at an average cost of $1.14 per share, with a total value of $199,103.28. Following the acquisition, 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 can be accessed through this hyperlink. 5.50% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of AXAS. Dimensional Fund Advisors LP raised its holdings in shares of Abraxas Petroleum by 56.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,231,327 shares of the energy company’s stock worth $12,229,000 after buying an additional 1,526,579 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Abraxas Petroleum by 7.9% during the 2nd quarter. BlackRock Inc. now owns 11,633,452 shares of the energy company’s stock worth $33,622,000 after buying an additional 847,643 shares in the last quarter. LSV Asset Management grew its position in Abraxas Petroleum by 902.9% during the 3rd quarter. LSV Asset Management now owns 833,400 shares of the energy company’s stock worth $1,941,000 after acquiring an additional 750,300 shares during the last quarter. Walthausen & Co. LLC bought a new stake in Abraxas Petroleum during the 3rd quarter worth $1,082,000. Finally, Allianz Asset Management GmbH grew its position in Abraxas Petroleum by 38.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,628,666 shares of the energy company’s stock worth $3,795,000 after acquiring an additional 455,818 shares during the last quarter. 58.47% of the stock is owned by institutional investors.
Abraxas Petroleum Company Profile
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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