Today it was reported that the President & CEO of Abraxas Petroleum Corp (AXAS), Robert Watson, exercised options to buy 125,000 AXAS shares at $0.99 a share, for a total transaction value of $123.8K. The options were close to expired and Robert Watson retained stocks.
Following this transaction Robert Watson’s holding in the company was increased by 7.62% to a total of $2.38 million. In addition to Robert Watson, 6 other AXAS executives reported Buy trades in the last month.
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Based on Abraxas Petroleum Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $36 million and quarterly net profit of $55.82 million. In comparison, last year the company earned revenue of $29.59 million and had a GAAP net loss of $4.11 million. AXAS’s market cap is $225.1M and the company has a P/E ratio of 3.92. Currently, Abraxas Petroleum Corp has an average volume of 58.68K.
In the last 30 days, insiders have sold $11.14K worth of AXAS shares and purchased $251.2K worth of AXAS shares. The insider sentiment on Abraxas Petroleum Corp has been positive according to 35 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.
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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.
