Approach Resources Inc. (NASDAQ:AREX) is scheduled to be releasing its earnings data after the market closes on Wednesday, November 1st. Analysts expect Approach Resources to post earnings of ($0.10) per share for the quarter.

Approach Resources (NASDAQ:AREX) last released its quarterly earnings results on Wednesday, August 2nd. The energy company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The firm had revenue of $24.97 million for the quarter, compared to the consensus estimate of $25.86 million. Approach Resources had a negative net margin of 169.54% and a negative return on equity of 6.84%. Approach Resources’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.25) earnings per share. On average, analysts expect Approach Resources to post $-0.4 EPS for the current fiscal year and $-0.34 EPS for the next fiscal year.

Approach Resources Inc. (AREX) opened at 2.33 on Wednesday. The company’s market capitalization is $201.17 million. The stock’s 50 day moving average price is $2.54 and its 200 day moving average price is $2.65. Approach Resources Inc. has a 12-month low of $1.93 and a 12-month high of $4.33.

A hedge fund recently raised its stake in Approach Resources stock. State Street Corp boosted its holdings in shares of Approach Resources Inc. (NASDAQ:AREX) by 2,151.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 491,375 shares of the energy company’s stock after acquiring an additional 469,552 shares during the period. State Street Corp owned about 0.57% of Approach Resources worth $1,657,000 at the end of the most recent reporting period. Institutional investors own 24.33% of the company’s stock.

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A number of research analysts recently issued reports on AREX shares. ValuEngine downgraded shares of Approach Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of Approach Resources from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Imperial Capital started coverage on shares of Approach Resources in a research note on Friday, August 18th. They set an “in-line” rating and a $2.50 target price for the company. Robert W. Baird reissued a “hold” rating and set a $4.00 target price on shares of Approach Resources in a research note on Tuesday, September 26th. Finally, BidaskClub cut shares of Approach Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $3.25.

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.

Earnings History for Approach Resources (NASDAQ:AREX)

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