Abraxas Petroleum Corp. (AXAS) : Biglari Capital Corp. has sold out all of its stake in Abraxas Petroleum Corp. during the most recent quarter, according to the disclosure filed by the company on Nov 14, 2016 with the SEC. The investment management company has sold out 4,530,682 shares of Abraxas Petroleum Corp. which is valued at $8,019,307.
Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in AXAS in the latest quarter, The investment management firm added 22,118 additional shares and now holds a total of 95,711 shares of Abraxas Petroleum Corp. which is valued at $165,580.Mutual Of America Capital Management boosted its stake in AXAS in the latest quarter, The investment management firm added 134,407 additional shares and now holds a total of 700,451 shares of Abraxas Petroleum Corp. which is valued at $1,099,708. Abraxas Petroleum Corp. makes up approx 0.02% of Mutual Of America Capital Management’s portfolio.Thomson Horstmann Bryant Inc reduced its stake in AXAS by selling 277,368 shares or 12.48% in the most recent quarter. The Hedge Fund company now holds 1,944,872 shares of AXAS which is valued at $3,520,218. Abraxas Petroleum Corp. makes up approx 0.52% of Thomson Horstmann Bryant Inc’s portfolio.
Abraxas Petroleum Corp. opened for trading at $1.8 and hit $1.865 on the upside on Monday, eventually ending the session at $1.84, with a gain of 2.79% or 0.05 points. The heightened volatility saw the trading volume jump to 10,78,526 shares. Company has a market cap of $249 M.
On the company’s financial health, Abraxas Petroleum Corp. reported $-0.05 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.00. The company had revenue of $11.00 million for the quarter, compared to analysts expectations of $12.26 million. The company’s revenue was down -41.9 % compared to the same quarter last year.
Many Wall Street Analysts have commented on Abraxas Petroleum Corp.. Rodman & Renshaw Initiated Abraxas Petroleum Corp. on Oct 21, 2016 to “Buy”, Price Target of the shares are set at $3.
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 Company’s 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 Company’s daily net production for the year ended December 31 2014 was 5720 barrels of oil equivalent per day (Boepd) of which 77% was oil or liquids. The Company’s oil and gas assets are located in three operating regions the Rocky Mountain Permian Basin and onshore Gulf Coast.