Abraxas Petroleum Corporation (NASDAQ:AXAS): The stock price is expected to reach $ 1.75 in the short term. The number of analysts agreeing with this consensus is 6. The higher estimate for the short term price target is at $5 while the lower estimate is at $1. The standard deviation of the price stands at $1.6.
Many analysts have stated their opinion on the company shares. Brokerage firm Cowen & Company upgrades its rating on Abraxas Petroleum Corporation (NASDAQ:AXAS). The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. The rating by the firm was issued on April 18, 2016. For the current week, the company shares have a recommendation consensus of Buy.
On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Abraxas Petroleum Corp, Russell Edward had purchased shares worth of $4,320 in a transaction dated on June 1, 2016. A total of 4,000 shares were purchased at a price of $1.08 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Abraxas Petroleum Corporation (NASDAQ:AXAS) : On Monday heightened volatility was witnessed in Abraxas Petroleum Corporation (NASDAQ:AXAS) which led to swings in the share price. The stock opened for trading at $1.11 and hit $1.2 on the upside , eventually ending the session at $1.17, with a gain of 0.86% or 0.01 points. The heightened volatility saw the trading volume jump to 911,744 shares. The 52-week high of the share price is $3.19 and the company has a market cap of $124 million. The 52-week low of the share price is at $0.65 .
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.