The Coca-Cola Company (NYSE:KO) [Trend Analysis] try to make new thrust in street and making different trends, stocks trading ended with -0.22% to $40.53. The BOD of The Coca-Cola Company authorized the company’s 55thconsecutive annual dividend increase, raising the quarterly dividend 6 percent from 35 cents to 37 cents per common share.
This is equivalent to an annual dividend of $1.48 per share, up from $1.40 per share in 2016. The first quarterly dividend is payable April 3, 2017, to shareowners of record as of March 15, 2017.The increase reflects the Board’s confidence in the company’s long-term cash flow. The Coca-Cola Company returned $6 billion in dividends to shareowners in 2016, bringing to $35 billion the total amount given back to shareowners through dividends since Jan. 1, 2010. The share price of KO attracts active investors, as stock price of week volatility recorded 1.46%. The stock is going forward to its 52-week low with 1.63% and lagging behind from its 52-week high price with -11.90%.
Abraxas Petroleum Corporation (NASDAQ:AXAS) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 3.45% to close at $2.40 with the total traded volume of 1.7 Million shares. Abraxas Petroleum Corporation (AXAS) provided the following reserve and operational update. As of December 31, 2016, Abraxas’ proved oil and natural gas reserves consisted of approximately 44.7 MMBoe, a net increase of 1.5 MMBoe over 2015 year end reserves of 43.2 MMBoe.
December 31, 2016 reserves consisted of approximately 24.2 million barrels of oil, 8.6 million barrels of NGLs and 70.8 billion cubic feet of natural gas. Proved developed producing reserves were 13.9 MMBoe and comprised 31% of proved reserves as of December 31, 2016. The SEC-priced pre-tax PV-10(1) (a non-GAAP financial measure) was $160.6 million, using 2016 average prices of $42.74/bbl of oil and $2.50/mcf of natural gas. Realized pricing, including differentials, used in this calculation equated to $35.54/bbl of oil and $1.41/mcf of natural gas.
Bob Watson, President and CEO of Abraxas, commented, “We are pleased to report our fifth consecutive year of important production and reserve growth. Obviously, 2016 was a transformational year as our change in Bakken completion design led to a important increase in our Bakken type curve and our first Wolfcamp completion opened up a multi-year low-risk development for Abraxas. Although the last two weeks of 2016 were plagued by downtime caused by freeze-offs, we are pleased that our annual production guidance still came in at the middle of the range.
On the positive front, our gas volumes in the Permian, which were curtailed for almost a year and a half, have been producing at full rates since mid-January. We expect this to continue as a result of our third party processer making substantial upgrades to their facility. The firm has institutional ownership of 35.60%, while insider ownership included 0.20%. Its price to sales ratio ended at 7.92. AXAS attains analyst recommendation of 1.60 with week’s performance of 0.84%.