C.K. Cooper Maintains Abraxas Petroleum Buy, $5.50 PT
C.K. Cooper & Co. maintained its Abraxas Petroleum (NASDAQ: AXAS) Buy rating and $5.50 price target in a research report published today.
In the report, C.K. Cooper states, "We expect Bakken development activity to make a significant contribution to production in 2012, where AXAS expects to commence a two-year Bakken/Three Forks drilling program in the North Fork area of McKenzie County, ND."
Shares of Abraxas Petroleum were trading at $3.18 at the time of posting, up 0.32% from Wednesday's market close.
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