Abraxas Petroleum Corporation (AXAS) Receives Price Target

Abraxas Petroleum Corporation (AXAS) : The highest short term price target forecast on Abraxas Petroleum Corporation (AXAS) is $2 and the lowest target price is $1. A total of 6 equity analysts are currently covering the company. The average price of all the analysts is $1.34 with a standard deviation of $0.37.

Abraxas Petroleum Corporation (AXAS) : 7 analysts are covering Abraxas Petroleum Corporation (AXAS) and their average rating on the stock is 2.71, which is read as a Hold. 1 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 6 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.


Also, Ladenburg Thalmann initiates coverage on Abraxas Petroleum Corporation (NASDAQ:AXAS) . Analysts at the Ladenburg Thalmann have a current rating of Buy on the shares. The rating by the firm was issued on July 13, 2016.

Abraxas Petroleum Corporation (NASDAQ:AXAS): The stock opened at $1.39 on Thursday but the bulls could not build on the opening and the stock topped out at $1.40 for the day. The stock traded down to $1.35 during the day, due to lack of any buying support eventually closed down at $1.39 with a loss of -0.71% for the day. The stock had closed at $1.40 on the previous day. The total traded volume was 628,107 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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