Abraxas Petroleum Corporation (AXAS) Shares are Up 6.29%

Abraxas Petroleum Corporation (AXAS) : Traders are bullish on Abraxas Petroleum Corporation (AXAS) as it has outperformed the S&P 500 by a wide margin of 13.28% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.11%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.29% in the last 1 week, and is up 12.67% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 7.95% and the 50-Day Moving Average is 20.51%.The 200 Day SMA reached 45.76%


Abraxas Petroleum Corporation (NASDAQ:AXAS): After opening at $1.67, the stock dipped to an intraday low of $1.66 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $1.7 and the buying power remained strong till the end. The stock closed at $1.69 for the day, a gain of 1.20% for the day session. The total traded volume was 827,181. The stocks close on the previous trading day was $1.69.

Abraxas Petroleum Corporation (AXAS) : Currently there are 6 street experts covering Abraxas Petroleum Corporation (AXAS) stock. The most bullish and bearish price target for the stock is $2 and $1 respectively for the short term. The average price target of all the analysts comes to $1.34. The estimated standard deviation from the target is $0.37.

Abraxas Petroleum Corporation is an independent energy company. The Company is primarily engaged in the acquisition, exploration, development and production of oil and gas. As of December 31, 2014, the Companys estimated net proved reserves were 42.4 million barrels of oil equivalent (MMBoe), of which 42% were classified as proved developed, 78% were oil and natural gas liquids (NGL) and 92% of which (on a PV-10 basis) were operated by the Company. The Companys daily net production for the year ended December 31, 2014 was 5,720 barrels of oil equivalent per day (Boepd), of which 77% was oil or liquids. The Companys oil and gas assets are located in three operating regions, the Rocky Mountain, Permian Basin and onshore Gulf Coast.

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