Basic Material New Highs: Abraxas Petroleum Corp. (NASDAQ:AXAS), Warren Resources,. (NASDAQ:WRES), C&J Energy Services. (NYSE:CJES), Alcoa (NYSE:AA), Pioneer Energy Services (NYSE:PES)

Posted by on Jun 27, 2014

Abraxas Petroleum Corporation (NASDAQ:AXAS) on 24 June announced the closing of its public offering of 11,500,000 shares of common stock including 1,500,000 shares sold pursuant to the exercise by the underwriters of their full option to purchase additional shares at a price of $5.00 per share, less applicable underwriting discounts. Abraxas Petroleum Corp. (NASDAQ:AXAS) net profit margin is 43.20% and weekly performance is 15.90%. On last trading day company shares ended up $6.05. Analysts mean target price for the company is $6.28. Abraxas Petroleum Corp. (NASDAQ:AXAS) distance from 50-day simple moving average (SMA50) is 16.07%.

Warren Resources, Inc. (NASDAQ:WRES) held its Annual Meeting of Shareholders on June 10, 2014. The matters voted upon To elect each of Mr. Chet Borgida and Mr. Marcus C. Rowland as directors for a term expiring at the 2017 Annual Meeting, or until their successors are duly elected, To approve an amendment to the Charter, as amended, to increase the number of authorized shares of our common stock from 100,000,000 to 200,000,000, Ratification of the appointment of Grant Thornton LLP as independent auditors for 2014 and To approve, on a non-binding advisory basis, the Company’s compensation of its named executive officers as disclosed in the 2014 proxy statement. Warren Resources, Inc. (NASDAQ:WRES) shares advanced 3.36% in last trading session and ended the day on $5.85. WRES gross Margin is 71.70% and its return on assets is 9.40%.Warren Resources, Inc. (NASDAQ:WRES) quarterly performance is 25.00%.

C&J Energy Services Inc. (NYSE:CJES) late Wednesday agreed to merge with Nabors Industries Ltd.’s completions arm in a $2.86 billion deal that would create one of the largest hydraulic fracturing (fracking) businesses in North America. C&J Energy Services Inc. (NYSE:CJES) shares moved up 0.03% in last trading session and was closed at $32.82, while trading in range of $31.52 – $34.93. C&J Energy Services Inc. (NYSE:CJES) year to date (YTD) performance is 42.08%.

Alcoa Inc. (NYSE:AA) said it agreed to buy Firth Rixson, a maker of jet engine components, for $2.85 billion from private-equity firm Oak Hill Capital Partners. Alcoa is trying to insulate itself from the ups and downs of the commodity business by focusing on high-profit end products like aerospace and automotive parts. Alcoa Inc. (NYSE:AA) ended the last trading day at $14.94. Company weekly volatility is calculated as 1.88% and price to cash ratio as 26.34.Alcoa Inc. (NYSE:AA) showed a positive weekly performance of 3.32%.

On 15, May Levi & Korsinsky, LLP is investigating Pioneer Energy Services Corp. (NYSE:PES) in connection with possible claims of breaches of fiduciary duty by certain members of the board of directors of the Company. Pioneer Energy Services Corp (NYSE:PES) net profit margin is -3.80% and weekly performance is 3.47%. On last trading day company shares ended up $17.28. Analysts mean target price for the company is $16.79. Pioneer Energy Services Corp (NYSE:PES) distance from 50-day simple moving average (SMA50) is 13.03%.

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