Approach Resources (AREX) Trading Down 5.2%

Approach Resources Inc. (NASDAQ:AREX) was down 5.2% on Thursday . The company traded as low as $3.43 and last traded at $3.46. Approximately 604,118 shares were traded during trading, a decline of 33% from the average daily volume of 897,095 shares. The stock had previously closed at $3.65.

A number of equities research analysts have recently weighed in on AREX shares. KeyCorp restated a “hold” rating on shares of Approach Resources in a research report on Monday, November 13th. Zacks Investment Research cut Approach Resources from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. ValuEngine cut Approach Resources from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Scotiabank reaffirmed a “hold” rating and set a $3.00 price objective on shares of Approach Resources in a research note on Wednesday, November 22nd. Finally, BidaskClub raised Approach Resources from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Approach Resources currently has an average rating of “Hold” and a consensus price target of $3.08.

The company has a debt-to-equity ratio of 0.69, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market capitalization of $299.34, a P/E ratio of -1.37 and a beta of 2.67.

Approach Resources (NASDAQ:AREX) last announced its quarterly earnings data on Wednesday, November 1st. The energy company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Approach Resources had a negative return on equity of 6.39% and a negative net margin of 165.95%. The business had revenue of $25.61 million during the quarter, compared to analysts’ expectations of $25.74 million. equities research analysts predict that Approach Resources Inc. will post -0.36 EPS for the current fiscal year.

In other Approach Resources news, major shareholder Wilks Brothers, Llc bought 29,285 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was purchased at an average cost of $2.39 per share, with a total value of $69,991.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have purchased 4,089,398 shares of company stock valued at $11,804,970. 5.10% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Virtu KCG Holdings LLC grew its stake in Approach Resources by 182.8% in the second quarter. Virtu KCG Holdings LLC now owns 32,033 shares of the energy company’s stock valued at $108,000 after acquiring an additional 20,705 shares during the period. New York State Common Retirement Fund acquired a new position in Approach Resources in the second quarter valued at about $154,000. Rhumbline Advisers acquired a new position in Approach Resources in the second quarter valued at about $157,000. Parametric Portfolio Associates LLC grew its stake in Approach Resources by 14.6% in the second quarter. Parametric Portfolio Associates LLC now owns 53,322 shares of the energy company’s stock valued at $180,000 after acquiring an additional 6,781 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Approach Resources in the second quarter valued at about $185,000. 24.31% of the stock is owned by hedge funds and other institutional investors.

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About Approach Resources

Approach Resources Inc is an independent energy company. The Company is focused on the exploration, development, production and acquisition of unconventional oil and gas reserves in the Midland Basin of the greater Permian Basin in West Texas. The Company’s business segment is the exploration and production of oil, natural gas liquids (NGLs) and natural gas.

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