Abraxas Petroleum (AXAS) Soars: Stock Adds 12.5% in Session
Abraxas Petroleum Corp. (AXAS) was a big mover last session, as the company saw its shares rise over 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $4.65 to $5.18 since May 14, 2014.
The company has seen three negative estimate revisions in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent move higher can last.
Abraxas Petroleum currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Other better-ranked U.S. oil exploration companies that are worth considering include Athlon Energy Inc. (ATHL), Encana Corporation (ECA) and RSP Permian, Inc. (RSPP). All these stocks sport a Zacks Rank #1 (Strong Buy).
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ABRAXAS PETROLEUM CP (AXAS): Free Stock Analysis Report
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