Brokerage Firm Rating on Abraxas Petroleum Corporation (AXAS)

Abraxas Petroleum Corporation (AXAS) : 1 brokerage houses believe that Abraxas Petroleum Corporation (AXAS) is a Strong Buy at current levels. 6 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Abraxas Petroleum Corporation (AXAS). Zacks Investment Research suggests a Buy with a rank of 2.The median of all the 7 Wall Street Analysts endorse the stock as a Hold with a rating of 2.71.

Abraxas Petroleum Corporation (AXAS) : The highest short term price target forecast on Abraxas Petroleum Corporation (AXAS) is $1 and the lowest target price is $1. A total of 5 equity analysts are currently covering the company. The average price of all the analysts is $1.11 with a standard deviation of $0.15.


For the current week, the company shares have a recommendation consensus of Buy. Abraxas Petroleum Corporation (NASDAQ:AXAS): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.23 and $1.21 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.31. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.31, notching a gain of 7.38% for the day. The total traded volume was 1,481,750 . The stock had closed at $1.22 on the previous day.

In a related news, 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 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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