Equities research analysts at C.K. Cooper upgraded shares of Abraxas Petroleum Corp. (NASDAQ: AXAS) from a “hold” rating to a “buy” rating in a research note to investors on Monday. The analysts currently have a $5.50 price target on the stock.
Separately, analysts at Wunderlich reiterated a “buy” rating on shares of Abraxas Petroleum Corp. in a research note to investors on Tuesday, May 10th. Also, analysts at Zacks Investment Research reiterated a “neutral” rating on shares of Abraxas Petroleum Corp. in a research note to investors on Thursday, March 31st.
Shares of Abraxas Petroleum Corp. traded down 1.88% during mid-day trading on Tuesday, hitting $3.905. Abraxas Petroleum Corp. has a 52 week low of $2.09 and a 52 week high of $6.16. The stock’s 50-day moving average is $4.93 and its 200-day moving average is $4.58. The company has a market cap of $358.2 million.
Abraxas Petroleum Corp. last announced its quarterly results on Monday, May 9th. The company reported $0.01 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.03 EPS by $0.02. The company’s quarterly revenue was down 13.00% on a year-over-year basis. On average, analysts predict that Abraxas Petroleum Corp. will post $0.06 EPS next quarter.
Abraxas Petroleum Corporation (Abraxas) is an independent energy company primarily engaged in the development and production of oil and gas. As of December 31, 2009, its properties were located in the Rocky Mountain, Mid-Continent, Permian Basin and Gulf Coast regions of the United States. On October 5, 2009, Abraxas Petroleum Corporation acquired 100% ownership of Abraxas Energy Partners, L.P.
