Zacks Rating on Abraxas Petroleum Corporation (AXAS)

Abraxas Petroleum Corporation (AXAS) : The consensus on Abraxas Petroleum Corporation (AXAS) based on 7 analyst recommendation on the company stock is 2.71, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 6 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Abraxas Petroleum Corporation (AXAS) : The consensus price target for Abraxas Petroleum Corporation (AXAS) is $1.16 for the short term with a standard deviation of $0.15. The most optimist securities analyst among the 5 who monitor the stock believes that the stock can reach $1, however, the pessimist price target for the company is $1.


Abraxas Petroleum Corp. has dropped 4.29% in the last five trading days, however, the shares have posted positive gains of 14.53% in the last 4 weeks. Abraxas Petroleum Corp. is up 22.94% in the last 3-month period. Year-to-Date the stock performance stands at 26.42%. Abraxas Petroleum Corporation (NASDAQ:AXAS): On Tuesdays trading session , Opening price of the stock was $1.35 with an intraday high of $1.39. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $1.31. However, the stock managed to close at $1.34, a loss of 1.47% for the day. On the previous day, the stock had closed at $1.36. The total traded volume of the day was 1,088,802 shares.

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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