Stifel Nicolaus Maintains a Buy Rating on Abraxas Petroleum Corp

By Jason Carr

Stifel Nicolaus analyst Michael Scialla maintained a Buy rating on Abraxas Petroleum Corp (NASDAQ: AXAS) today and set a price target of $3.70. The company’s shares closed yesterday at $2.36.

According to TipRanks.com, Scialla is ranked 0 out of 5 stars with an average return of -6.4% and a 43.4% success rate. Scialla covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Quicksilver Resources Inc, and Jagged Peak Energy Inc.

Currently, the analyst consensus on Abraxas Petroleum Corp is Strong Buy and the average price target is $3.40, representing a 44.1% upside.

In a report released yesterday, Canaccord Genuity also reiterated a Buy rating on the stock with a $3.50 price target.

Abraxas Petroleum Corp’s market cap is currently $391.5M 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.