Abraxas Petroleum Corp. (NASDAQ:AXAS) has been downgraded to Strong Sell in a statement by Zacks Investment Research earlier today.
- Updated: September 27, 2016
Zacks Investment Research has downgraded Abraxas Petroleum Corp. (NASDAQ:AXAS) to Strong Sell in a statement released on 09/27/2016.
Boasting a price of $1.62, Abraxas Petroleum Corp. (NASDAQ:AXAS) traded 1.25% higher on the day. With the last close up 31.36% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Abraxas Petroleum Corp. has recorded a 50-day average of $1.45 and a two hundred day average of $1.23. Volume of trade was up over the average, with 943,976 shares of AXAS changing hands over the typical 935,200
With a total market value of $0, Abraxas Petroleum Corp. has with a one year low of $0.65 and a one year high of $1.95 .
A total of 10 analysts have released a research note on AXAS. zero analysts rating the company a strong buy, zero analysts rating the company a buy, zero analysts rating the company a hold, zero analysts rating the company a underperform, and finally zero analysts rating the company a sell with a one year target of $1.68.
More About Abraxas Petroleum Corp. (NASDAQ:AXAS)
Abraxas Petroleum Corporation is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas. The Company's estimated net proved reserves are approximately 43.2 million barrels of oil equivalent (MMBoe), of which over 38% are classified as proved developed, approximately 71% are oil and natural gas liquids (NGL), and approximately 95% of which (on a PV-10 basis) are operated by the Company. The Company's daily net production is approximately 5,970 barrels of oil equivalent per day (Boepd), of which over 77% is oil or liquids. The Company's oil and gas assets are located in three operating regions: the Rocky Mountain, Permian Basin and onshore Gulf Coast. The Company's properties in the Rocky Mountain region are located in the Williston Basin of North Dakota and Montana, and in the Green River Powder River and Unita Basins of Wyoming and Utah.
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