Abraxas Petroleum Corp. (AXAS) Releases Earnings Results, Misses Expectations By $-0.05 EPS

Abraxas Petroleum Corp. (AXAS) reported quarterly earnings results on Tuesday, Aug-9-2016. The company reported $-0.05 earnings per share for the quarter, missing the analyst consensus estimate by $-0.05. Analysts had a consensus of $0.00. The company posted revenue of $11.00 million in the period, compared to analysts expectations of $12.26 million. The company’s revenue was down -41.9% compared to the same quarter last year.

Abraxas Petroleum Corp. opened for trading at $1.31 and hit $1.34 on the upside on Monday, eventually ending the session at $1.3, with a gain of 0.78% or 0.01 points. The heightened volatility saw the trading volume jump to 8,26,980 shares. Company has a market cap of $138 M.

In a different news, on Jun 2, 2016, Edward Russell (director) purchased 4,000 shares at $1.08 per share price. According to the SEC, on Mar 28, 2016, Peter A. Bommer (VP – Engineering) purchased 8,138 shares at $1.14 per share price. On Aug 25, 2015, George William Jr Krog (Chief Accounting Officer) purchased 10,000 shares at $1.56 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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 Company’s daily net production for the year ended December 31 2014 was 5720 barrels of oil equivalent per day (Boepd) of which 77% was oil or liquids. The Company’s oil and gas assets are located in three operating regions the Rocky Mountain Permian Basin and onshore Gulf Coast.

Abraxas Petroleum Corp.

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