29 May, 2017
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The stock of Approach Resources Inc. Also, insider Wilks Brothers, Llc bought 375,000 shares of the business's stock in a transaction that occurred on Thursday, May 25th. The shares were bought at an average cost of $3.00 per share, for a total transaction of $30,000.00. The 1-year High price of the stock is $4.35, while the 1-year low price is $1.35.
Approach Resources (NASDAQ:AREX) remained flat at $2.76 during midday trading on Wednesday. 774,008 shares of the company traded hands. The company's market capitalization is $201.02 million. The company has a 50-day moving average price of $2.51 and a 200 day moving average price of $2.91. Comparatively, AREX posted earnings of $-0.23 per share in the same quarter, a year earlier. The energy company reported ($0.11) earnings per share for the quarter, hitting the Zacks' consensus estimate of ($0.11). The Return on Equity ratio of Approach Resources, Inc. AREX generated revenue of $25.19 Million in the same quarter, one year ago. During the same period in the previous year, the company earned ($0.32) earnings per share.
Equities research analysts at KeyCorp lowered their Q2 2018 EPS estimates for Approach Resources in a report issued on Sunday. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and global copyright legislation. The original version of this report can be read at https://www.chaffeybreeze.com/2017/05/24/wilks-brothers-llc-acquires-150000-shares-of-approach-resources-inc-arex-stock.html.
A number of analysts have recently issued reports on AREX shares. Zacks Investment Research lowered Approach Resources from a "hold" rating to a "sell" rating in a report on Friday, May 19th. Morgan Stanley boosted its position in Approach Resources by 16.1% in the first quarter. Scotiabank restated a "hold" rating and issued a $3.25 price objective on shares of Approach Resources in a report on Tuesday, May 16th.
Approach Resources, Inc. was covered by a number of analysts recently, 1 rated the stock as Buy, 7 rated Hold, 0 rated sell and 1 gave an Underperform. The stock has a consensus rating of "Hold" and an average price target of $3.85.
A stock rating usually tells investors how well a stock's market value relates to what analysts think is a fair value for the stock, based on an independent evaluation of the company. United Services Automobile Association acquired a new position in shares of Approach Resources during the first quarter worth $1,039,000.
University of MI professor and noted insider trading researcher discovered that when insiders bought shares of their own companies, the stocks outperformed the total market by 8.9% over the next 12-month period. Schroder Investment Management Group purchased a new stake in Approach Resources during the first quarter valued at $174,000. The company had a trading volume of 324,169 shares. Geode Capital Management LLC boosted its stake in Approach Resources by 8.0% in the first quarter. Geode Capital Management LLC now owns 268,688 shares of the energy company's stock worth $674,000 after buying an additional 19,896 shares in the last quarter.
ILLEGAL ACTIVITY NOTICE: "Q2 2018 Earnings Estimate for Approach Resources Inc".
According to the Recommendation Trends of the stock polled by Finviz, the company has a consensus recommendation of 2.7 out of the scale from 1 to 5 where 1 stands for Buy and 5 means Sell. Dimensional Fund Advisors LP raised its position in Approach Resources by 5.7% in the fourth quarter. Morgan Stanley now owns 220,789 shares of the energy company's stock valued at $554,000 after buying an additional 30,621 shares during the last quarter. Hedge funds and other institutional investors own 49.46% of the company's stock.
News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Approach Resources Inc. with MarketBeat.com's FREE daily email newsletter. The Firm is focused on the exploration, development, production and acquisition of unconventional gas and oil reserves in the Midland Basin of the greater Permian Basin in West Texas.
