Abraxas Petroleum Corporation (AXAS) Shares are Up 7.41%

Abraxas Petroleum Corporation (AXAS) : Traders are bullish on Abraxas Petroleum Corporation (AXAS) as it has outperformed the S&P 500 by a wide margin of 11.97% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.44%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.41% in the last 1 week, and is up 12.4% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

Abraxas Petroleum Corp. is up 40.78% in the last 3-month period. Year-to-Date the stock performance stands at 36.79%. The stock has recorded a 20-day Moving Average of 14.9% and the 50-Day Moving Average is 20.93%.


Abraxas Petroleum Corporation (NASDAQ:AXAS): The stock was completely flat for the day, closing at $1.45 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $1.45, the stock touched an intraday high of $1.45 and a low of $1.42. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $1.45. The total trading volume on Friday was 434,427.

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

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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