Abraxas Petroleum Corporation (NASDAQ:AXAS) has received a short term rating of hold from experts at Zacks with a rank of 3. The stock has been rated an average of 3 by 6 Brokerage Firm. 6 Brokerage Firms have advised hold.
Other Equity analysts have also commented on the company shares. Cowen & Company upgrades its rating on Abraxas Petroleum Corporation (NASDAQ:AXAS). Analysts at the Cowen & Company have a current rating of Outperform on the shares. The shares were previously rated Market Perform. The rating by the firm was issued on April 18, 2016.
Abraxas Petroleum Corporation (NASDAQ:AXAS) shares are expected to touch $1.1 in the short term. This short term price target has been shared by 5 analysts. However, the standard deviation of short term price estimate has been valued at 0.14. The target price could hit $1 on the higher end and $1 on the lower end.
Abraxas Petroleum Corporation (NASDAQ:AXAS) witnessed a decline in the market cap on Tuesday as its shares dropped 3.45% or 0.04 points. After the session commenced at $1.14, the stock reached the higher end at $1.15 while it hit a low of $1.09. With the volume soaring to 1,146,097 shares, the last trade was called at $1.12. The company has a 52-week high of $3.19. The company has a market cap of $119 million and there are 106,387,103 shares in outstanding. The 52-week low of the share price is $0.65.
Abraxas Petroleum Corp. has dropped 3.45% in the last five trading days, however, the shares have posted positive gains of 8.74% in the last 4 weeks. Abraxas Petroleum Corp. is up 3.7% in the last 3-month period. Year-to-Date the stock performance stands at 5.66%.
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.