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Shares of Approach Resources (NASDAQ:AREX) have received an average rating of “Hold” from the twenty-three analysts that are presently covering the stock, Analyst RN reports. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $27.05.

A number of analysts have recently weighed in on AREX shares. Analysts at Howard Weil downgraded shares of Approach Resources from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday. They now have a $28.00 price target on the stock, down previously from $34.00. Separately, analysts at Robert W. Baird downgraded shares of Approach Resources from an “outperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $23.00 price target on the stock, down previously from $30.00. Finally, analysts at Mizuho cut their price target on shares of Approach Resources from $21.00 to $20.00 in a research note on Tuesday, August 5th. They now have a “neutral” rating on the stock.

Approach Resources (NASDAQ:AREX) opened at 18.03 on Wednesday. Approach Resources has a 52 week low of $17.30 and a 52 week high of $31.67. The stock’s 50-day moving average is $21.40 and its 200-day moving average is $20.67. The company has a market cap of $709.8 million and a price-to-earnings ratio of 9.60.

Approach Resources (NASDAQ:AREX) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.23 by $0.01. The company had revenue of $73.41 million for the quarter, compared to the consensus estimate of $66.06 million. During the same quarter last year, the company posted $0.13 earnings per share. Approach Resources’s revenue was up 73.7% compared to the same quarter last year. Analysts expect that Approach Resources will post $0.90 EPS for the current fiscal year.

Approach Resources Inc, is an independent energy company engaged in the exploration, development, production and acquisition of oil and gas properties.

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