Approach Resources Inc. (NASDAQ:AREX) insider Wilks Brothers, Llc bought 375,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were purchased at an average cost of $2.79 per share, for a total transaction of $1,046,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Wilks Brothers, Llc also recently made the following trade(s):

  • On Friday, May 19th, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The shares were purchased at an average cost of $2.89 per share, for a total transaction of $433,500.00.
  • On Tuesday, May 16th, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The shares were purchased at an average cost of $3.03 per share, for a total transaction of $454,500.00.
  • On Monday, May 15th, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The shares were purchased at an average cost of $2.97 per share, for a total transaction of $445,500.00.
  • On Wednesday, May 10th, Wilks Brothers, Llc bought 200,000 shares of Approach Resources stock. The shares were purchased at an average cost of $2.81 per share, for a total transaction of $562,000.00.

Shares of Approach Resources Inc. (NASDAQ:AREX) traded down 1.81% during trading on Friday, reaching $2.71. The company had a trading volume of 1,052,210 shares. Approach Resources Inc. has a 52-week low of $1.35 and a 52-week high of $4.35. The company has a 50 day moving average of $2.51 and a 200-day moving average of $2.91. The firm’s market capitalization is $190.81 million.

Approach Resources (NASDAQ:AREX) last announced its quarterly earnings results on Thursday, May 4th. The energy company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). Approach Resources had a negative net margin of 49.87% and a negative return on equity of 6.45%. The business had revenue of $26.40 million during the quarter, compared to analysts’ expectations of $25.96 million. During the same period last year, the business earned ($0.32) earnings per share. The business’s revenue for the quarter was up 50.0% on a year-over-year basis. Equities analysts expect that Approach Resources Inc. will post ($0.32) earnings per share for the current year.

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Several large investors have recently made changes to their positions in AREX. Edge Wealth Management LLC bought a new stake in shares of Approach Resources during the first quarter worth $100,000. Segantii Capital Management Ltd boosted its stake in shares of Approach Resources by 536.8% in the first quarter. Segantii Capital Management Ltd now owns 48,400 shares of the energy company’s stock worth $121,000 after buying an additional 40,800 shares in the last quarter. Airain ltd bought a new stake in shares of Approach Resources during the first quarter worth $166,000. Schroder Investment Management Group bought a new stake in shares of Approach Resources during the first quarter worth $174,000. Finally, Eagle Global Advisors LLC boosted its stake in shares of Approach Resources by 18.9% in the first quarter. Eagle Global Advisors LLC now owns 77,638 shares of the energy company’s stock worth $195,000 after buying an additional 12,350 shares in the last quarter. Institutional investors and hedge funds own 49.46% of the company’s stock.

A number of research analysts recently issued reports on AREX shares. Scotiabank set a $3.00 target price on Approach Resources and gave the stock a “hold” rating in a report on Saturday, May 6th. Seaport Global Securities reaffirmed a “neutral” rating and set a $3.50 target price on shares of Approach Resources in a report on Thursday, February 16th. Zacks Investment Research lowered Approach Resources from a “hold” rating to a “sell” rating in a report on Friday, May 19th. Finally, KLR Group reaffirmed a “buy” rating and set a $4.00 target price (down from $4.25) on shares of Approach Resources in a report on Tuesday, March 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $3.85.

Approach Resources Company Profile

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.

12 Month Chart for NASDAQ:AREX

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