Abraxas Petroleum Corporation (NASDAQ:AXAS) : The consensus on Abraxas Petroleum Corporation (NASDAQ:AXAS) based on 6 analyst recommendation on the company stock is 3, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 6 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.
Abraxas Petroleum Corporation (NASDAQ:AXAS) : The highest short term price target forecast on Abraxas Petroleum Corporation (NASDAQ:AXAS) is $1 and the lowest target price is $1. A total of 5 equity analysts are currently covering the company. The average price of all the analysts is $1.1 with a standard deviation of $0.14.
For the current week, the company shares have a recommendation consensus of Buy. Also, Equity Analysts at the Brokerage Firm, Cowen & Company, upgrades their rating on the shares of Abraxas Petroleum Corporation (NASDAQ:AXAS). Cowen & Company has a Outperform rating on the shares. Previously, the analysts had a Market Perform rating on the shares. The rating by the firm was issued on April 18, 2016.
Abraxas Petroleum Corporation (NASDAQ:AXAS): stock turned positive on Tuesday. Though the stock opened at $1.08, the bulls momentum made the stock top out at $1.1 level for the day. The stock recorded a low of $1.07 and closed the trading day at $1.09, in the green by 3.81%. The total traded volume for the day was 978,430. The stock had closed at $1.05 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Abraxas Petroleum Corp, Russell Edward, had purchased 4,000 shares in a transaction dated on June 1, 2016. The transaction was executed at $1.08 per share with total amount equaling $4,320.
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.