Abraxas Petroleum Corporation (NASDAQ:AXAS) : Traders are bullish on Abraxas Petroleum Corporation (NASDAQ:AXAS) as it has outperformed the S&P 500 by a wide margin of 0.11% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.44%, 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 1.72% in the last 1 week, and is up 1.72% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have dropped -54.96% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $2.72 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $1.15 and the 200 Day Moving Average price is recorded at $1.08.
The stock has recorded a 20-day Moving Average of 4.42% and the 50-Day Moving Average is 3.26%.
Abraxas Petroleum Corporation (NASDAQ:AXAS): stock turned positive on Friday. Though the stock opened at $1.11, the bulls momentum made the stock top out at $1.18 level for the day. The stock recorded a low of $1.09 and closed the trading day at $1.18, in the green by 8.26%. The total traded volume for the day was 1,567,437. The stock had closed at $1.09 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Abraxas Petroleum Corp, Russell Edward, had purchased 4,000 shares in a transaction dated on June 1, 2016. The transaction was executed at $1.08 per share with total amount equaling $4,320.
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.