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Abraxas Petroleum (AXAS) has 1 split in our AXAS split history database. The split for AXAS took place on October 19, 2020. This was a 1 for 20 reverse split, meaning for each 20 shares of AXAS owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 50 share position following the split.
When a company such as Abraxas Petroleum conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the AXAS split history from start to finish, an original position size of 1000 shares would have turned into 50 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Abraxas Petroleum shares, starting with a $10,000 purchase of AXAS, presented on a split-history-adjusted basis factoring in the complete AXAS split history.
Growth of $10,000.00
Without Dividends Reinvested
|Average Annual Total Return:||-29.62%|
|About Abraxas Petroleum|
|Abraxas Petroleum is an independent energy company, engaged in the acquisition, exploration, development and production of oil and gas. Co.'s primary basins consist of the Permian/Delaware Basin (Bone Spring and Wolfcamp) and Williston Basin (Bakken and Three Forks). Co.'s properties in the Permian/Delaware Basin region are located in Ward and Winkler Counties, TX and produce oil and gas primarily from the Bone Spring and Wolfcamp formations. Co.'s properties in the Rocky Mountain region are primarily located in the Williston Basin of North Dakota and Montana. In this region, Co.'s wells produce oil and gas from various reservoirs, primarily the Bakken, Three Forks and Red River formations. According to our AXAS split history records, Abraxas Petroleum has had 1 split.|
|AXAS Split History Table|
|10/19/2020||1 for 20|
|Energy Stock Splits|
|AXAS is categorized under the Energy sector; below are some other companies in the same sector that also have a history of stock splits:
Also explore: AXAS shares outstanding history