Short Term Rating on Abraxas Petroleum Corporation (AXAS)

Abraxas Petroleum Corporation (AXAS) has an average broker rating of 3, which is interpreted as a Hold, as rated by 6 equity analysts. Nevertheless, the majority of 6 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Abraxas Petroleum Corporation (AXAS) : The most positive equity analysts on Abraxas Petroleum Corporation (AXAS) expects the shares to touch $1, whereas, the least positive believes that the stock will trade at $1 in the short term. The company is covered by 5 Wall Street Brokerage Firms. The average price target for shares are $1.1 with an expected fluctuation of $0.14 from the mean.

For the current week, the company shares have a recommendation consensus of Buy.


Abraxas Petroleum Corporation (NASDAQ:AXAS): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.21 and $1.19 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.26. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.24, notching a gain of 3.33% for the day. The total traded volume was 1,691,561 . The stock had closed at $1.20 on the previous day.

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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