Seaport Global Securities Weighs in on Abraxas Petroleum Corp.’s Q1 2020 Earnings (AXAS)

Abraxas Petroleum Corp. (NASDAQ:AXAS) – Stock analysts at Seaport Global Securities reduced their Q1 2020 earnings estimates for Abraxas Petroleum in a research report issued on Thursday, May 23rd. Seaport Global Securities analyst J. Aschenbeck now forecasts that the energy company will post earnings of $0.11 per share for the quarter, down from their prior estimate of $0.12. Seaport Global Securities also issued estimates for Abraxas Petroleum’s FY2020 earnings at $0.49 EPS.

Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings data on Monday, May 6th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Abraxas Petroleum had a net margin of 15.09% and a return on equity of 14.05%. The company had revenue of $34.51 million during the quarter, compared to analyst estimates of $31.65 million.

AXAS has been the subject of several other research reports. Zacks Investment Research downgraded shares of Abraxas Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. TheStreet raised shares of Abraxas Petroleum from a “d+” rating to a “c” rating in a report on Thursday, March 14th. Finally, ValuEngine raised shares of Abraxas Petroleum from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $3.83.

Shares of AXAS opened at $1.05 on Friday. Abraxas Petroleum has a fifty-two week low of $0.90 and a fifty-two week high of $3.23. The stock has a market cap of $176.79 million, a PE ratio of 5.83 and a beta of 1.56. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.42 and a quick ratio of 0.42.

A number of hedge funds and other institutional investors have recently bought and sold shares of AXAS. Portolan Capital Management LLC raised its holdings in Abraxas Petroleum by 38.2% during the fourth quarter. Portolan Capital Management LLC now owns 6,804,579 shares of the energy company’s stock worth $7,417,000 after purchasing an additional 1,881,556 shares in the last quarter. SCW Capital Management LP purchased a new position in Abraxas Petroleum in the fourth quarter valued at about $1,703,000. Wasatch Advisors Inc. increased its holdings in Abraxas Petroleum by 98.4% in the first quarter. Wasatch Advisors Inc. now owns 2,544,099 shares of the energy company’s stock valued at $3,180,000 after buying an additional 1,261,814 shares in the last quarter. Deutsche Bank AG increased its holdings in Abraxas Petroleum by 297.5% in the fourth quarter. Deutsche Bank AG now owns 1,271,270 shares of the energy company’s stock valued at $1,383,000 after buying an additional 951,493 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Abraxas Petroleum by 72.2% in the first quarter. AQR Capital Management LLC now owns 1,563,252 shares of the energy company’s stock valued at $1,954,000 after buying an additional 655,408 shares in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Abraxas Petroleum (NASDAQ:AXAS)

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