Abraxas Petroleum Corp. (NASDAQ: AXAS) Gains trading momentum with other energy stocks

Abraxas Petroleum Corp. (NASDAQ:AXAS) shares had moved up 28% in the day’s trading with the trading range being $2.60-$3.29.

Shares of the independent energy company leaded the Oil and Gas operations stocks rallying 28.02% while hitting the day’s high of $3.29. Trading of the Company’s shares had been observed on high volume of 2.57 million shares as against its average trading volume of 1.71 million shares.

Other gainers of the day included Brigham Exploration Co. (BEXP) up 6.42%; Gulfport Energy Corp. (GPOR) up 8.35%; Comstock Resources, Inc. (CRK) up 6.85%.

Analysts at the Johnson Rice & Company L.L.C. had assigned an OW (outweigh) rating to most of the energy companies present at the annual energy conference in New Orleans held on October 06, 2011.

Abraxas Petroleum Corporation (Abraxas) is an independent energy company engaged in the acquisition, exploitation, development and production of oil and gas in the United States and Canada.


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