Abraxas Petroleum Corp. (Nasdaq:AXAS)
December 6th, 2018
Abraxas Petroleum Corp. fell $0.13 Thursday, down 7.69%, closing at $1.56. As well as the drop in value, Abraxas Petroleum Corp. hit a new 52 week low of $1.53, breaking the previous low of $1.58 from earlier this July. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 0.28.
AXAS was outperformed by the rest of the Energy sector which went down only 1.77%.
The market sectors were mixed Thursday with a majority of the sectors trending down. Real Estate saw the biggest increase of the day (2.66%), while Energy saw the biggest drop (1.77%). Healthcare has seen the biggest year-to-date gain at 13%. The biggest loss this year has been the Communication Services sector falling 13%.
Communication Services saw the biggest turnaround from its 5-day performance of -0.23%, as it went up 1.04%. Energy and Materials experienced turn arounds from their five day positive performance, Energy with a drop of 1.77%.
- Real Estate went up with a 2.66% change.
- Communication Services went up with a 1.04% change.
- Consumer Discretionary went up with a 0.61% change.
- Information Technology went up with a 0.23% change.
- Utilities went down with a -0.10% change.
- Consumer Staples went down with a -0.10% change.
- Healthcare went down with a -0.31% change.
- Industrials went down with a -0.55% change.
- Materials went down with a -1.36% change.
- Financials went down with a -1.44% change.
- Energy went down with a -1.77% change.
Abraxas Petroleum Corp. Info
Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of oil and gas properties in the United States. The company operates oil and gas assets in the Permian/Delaware Basin, the Rocky Mountain, and South Texas regions. As of December 31, 2017, its estimated net proved reserves were 65.4 million barrels of oil equivalent. The company was founded in 1977 and is based in San Antonio, Texas.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Abraxas Petroleum Corp.’s score is 0.28) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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