Sigma Planning Corp boosted its position in Abraxas Petroleum Corp. (NASDAQ:AXAS) by 25.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 907,900 shares of the energy company’s stock after purchasing an additional 184,000 shares during the period. Sigma Planning Corp’s holdings in Abraxas Petroleum were worth $461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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A number of other hedge funds and other institutional investors have also recently made changes to their positions in AXAS. Compagnie Lombard Odier SCmA bought a new stake in Abraxas Petroleum in the second quarter worth about $40,000. Russell Investments Group Ltd. bought a new stake in Abraxas Petroleum in the third quarter worth about $61,000. Susquehanna International Group LLP bought a new stake in Abraxas Petroleum in the second quarter worth about $67,000. Morgan Stanley lifted its stake in Abraxas Petroleum by 52.8% in the second quarter. Morgan Stanley now owns 74,752 shares of the energy company’s stock worth $77,000 after purchasing an additional 25,817 shares during the last quarter. Finally, Hodges Capital Management Inc. bought a new stake in Abraxas Petroleum in the second quarter worth about $104,000. 51.33% of the stock is owned by institutional investors and hedge funds.
NASDAQ AXAS traded up $0.01 during trading on Friday, hitting $0.27. The stock had a trading volume of 2,064,400 shares, compared to its average volume of 1,132,879. The stock has a 50 day simple moving average of $0.39 and a 200 day simple moving average of $0.79. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.47 and a current ratio of 0.47. Abraxas Petroleum Corp. has a one year low of $0.26 and a one year high of $1.87. The stock has a market capitalization of $48.68 million, a price-to-earnings ratio of 1.50 and a beta of 1.69.
Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.02). Abraxas Petroleum had a return on equity of 13.62% and a net margin of 29.82%. The firm had revenue of $34.82 million during the quarter, compared to analysts’ expectations of $33.00 million. On average, sell-side analysts predict that Abraxas Petroleum Corp. will post 0.11 EPS for the current year.
Several brokerages have issued reports on AXAS. Zacks Investment Research downgraded shares of Abraxas Petroleum from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 29th. ValuEngine downgraded shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research note on Friday, November 1st. Seaport Global Securities downgraded shares of Abraxas Petroleum from a “buy” rating to a “neutral” rating in a research note on Thursday, October 10th. Finally, LADENBURG THALM/SH SH downgraded shares of Abraxas Petroleum from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $2.00 to $1.00 in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Abraxas Petroleum presently has an average rating of “Hold” and an average price target of $2.00.
Abraxas Petroleum Company Profile
Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of oil and gas properties in the United States. The company operates oil and gas assets in the Permian/Delaware Basin, the Rocky Mountain, and South Texas regions.
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