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

Seaport Global Securities has upgraded Abraxas Petroleum Corp. (NASDAQ:AXAS) to Accumulate in a report released on 10/10/2016.

Yesterday Abraxas Petroleum Corp. (NASDAQ:AXAS) traded 7.16% higher at $1.69. The company’s 50-day moving average is $1.54 and its 200-day moving average is $1.27. The last stock close price is up 42.69% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 922,845 shares of the stock were exchanged, up from an average trading volume of 892,322

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Abraxas Petroleum Corp. (NASDAQ:AXAS)

Abraxas Petroleum Corp. has a 52 week low of $0.65 and a 52 week high of $1.93 The company’s market cap is currently $0.

Also covering Abraxas Petroleum Corp.'s price target, a total of 10 analysts have issued a report on the company. The average stock price target is $1.68 with 0 firms rating the stock a strong buy, 0 analysts rating the company a buy, zero equity analysts rating the company a hold, zero brokerages rating the stock a underperform, and finally 0 brokers rating the stock a sell.

Brief Synopsis On 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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