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Abraxas (AXAS) Worth Watching: Stock Up 5.9%

Zacks Equity Research

Abraxas Petroleum Corp. (AXAS) was a big mover last session with shares rising nearly 6% 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 past one month’s volatile price range of $4.65 to $5.58.

This independent energy company has witnessed four positive estimate revisions in the last 30 days. The Zacks Consensus Estimate has also moved higher over the same period. This implies solid trading potential for the company. So make sure to keep an eye on this stock going forward to see if yesterday’s price action can turn into more strength down the road.

Abraxas currently holds a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.

Investors interested in the oil and gas sector may also consider stocks like Encana Corp. (ECA), Midstates Petroleum Company, Inc. (MPO) and QEP Resources, Inc. (QEP). All the three stocks sport a Zacks Rank #1 (Strong Buy).

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ABRAXAS PETROLEUM CP (AXAS): Free Stock Analysis Report

ENCANA CORP (ECA): Free Stock Analysis Report

MIDSTATES PETROLEUM CO INC (MPO): Free Stock Analysis Report

QEP RESOURCES INC (QEP): Free Stock Analysis Report

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