Canaccord Genuity Sticks to Their Buy Rating for Abraxas Petroleum Corp

By Jason Carr

Canaccord Genuity analyst Sam Roach reiterated a Buy rating on Abraxas Petroleum Corp (NASDAQ: AXAS) today and set a price target of $3.50. The company’s shares opened today at $2.36.

Roach has an average return of 9.9% when recommending Abraxas Petroleum Corp.

According to, Roach is ranked #2750 out of 4789 analysts.

Abraxas Petroleum Corp has an analyst consensus of Strong Buy, with a price target consensus of $3.23.

Abraxas Petroleum Corp’s market cap is currently $384.9M and has a P/E ratio of 27.67. The company has a book value ratio of 3.5696.

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Abraxas Petroleum Corp. engages in exploration, development, and production of crude oil and natural gas. It has operations across the Rocky Mountain, Permian Basin, and South Texas in the United States. The company was founded by Robert L.G. Watson in 1977 and is headquartered in San Antonio, TX.