Breaking Finance News

Seaport Global Securities downgraded Abraxas Petroleum Corp. (NASDAQ:AXAS) to Neutral in a report released today.

Yesterday Abraxas Petroleum Corp. (NASDAQ:AXAS) traded -4.62% lower at $1.78. The company’s 50-day moving average is $1.69 and its 200-day moving average is $1.81. The last stock close price is down -8.92% from the 200-day moving average, compared to the S&P 500 which has increased 0.04% over the same time. 1,353,978 shares of the stock were exchanged, up from an average trading volume of 1,162,270

Seaport Global Securities has downgraded Abraxas Petroleum Corp. (NASDAQ:AXAS) to Neutral in a report released on 6/21/2017.

See Chart Below

Abraxas Petroleum Corp. (NASDAQ:AXAS)

Abraxas Petroleum Corp. has a 52 week low of $1.43 and a 52 week high of $2.99 with a P/E ratio of 19.64 The company’s market cap is currently $0.

In addition to Seaport Global Securities reporting its target price, a total of 10 firms have reported on the stock. The consensus target price is $1.68 with 0 firms rating the stock a strong buy, 0 firms rating the stock a buy, 0 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.

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. As of December 31, 2016, the Company's estimated net proved reserves were 44.7 million barrels of oil equivalent (MMBoe), of which 33.6% were classified as proved developed, 74% were oil and natural gas liquids (NGL), and 95% of which (on a PV-10 basis) were operated by the Company. As of December 31, 2016, the Company's daily net production was 6,181 barrels of oil equivalent per day (Boepd), of which 61% was 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *