Stifel Nicolaus Reaffirms Their Buy Rating on Abraxas Petroleum Corp


Stifel Nicolaus analyst Michael Scialla reiterated a Buy rating on Abraxas Petroleum Corp (NASDAQ: AXAS) today and set a price target of $4.70. The company’s shares closed yesterday at $2.85.

According to TipRanks.com, Scialla is a 3-star analyst with an average return of 3.9% and a 58.3% success rate. Scialla covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Whiting Petroleum Corp, and Ultra Petroleum Corp.

Currently, the analyst consensus on Abraxas Petroleum Corp is a Moderate Buy with an average price target of $4.10.

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Abraxas Petroleum Corp’s market cap is currently $472.8M and has a P/E ratio of 37.85. The company has a Price to Book ratio of 4.02.

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Abraxas Petroleum Corp. engages in the acquisition, exploration, development, and production of crude oil and natural gas. It focuses primarily on the development of conventional and unconventional resources in its primary operating areas in the Rocky Mountains, South Texas, Powder River Basin and Permian Basin.

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