Approach Resources Inc. (NASDAQ:AREX) – KeyCorp issued their Q1 2019 earnings per share estimates for Approach Resources in a report released on Tuesday. KeyCorp analyst D. Deckelbaum forecasts that the energy company will post earnings of $0.00 per share for the quarter. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Approach Resources’ Q2 2019 earnings at $0.00 EPS and Q3 2019 earnings at $0.01 EPS.

Approach Resources (NASDAQ:AREX) last released its earnings results on Wednesday, November 1st. The energy company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. The company had revenue of $25.61 million for the quarter, compared to analysts’ expectations of $25.74 million. Approach Resources had a negative return on equity of 6.39% and a negative net margin of 165.95%.

Several other brokerages have also recently commented on AREX. ValuEngine cut Approach Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research raised Approach Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Robert W. Baird reissued a “hold” rating and issued a $4.00 price target on shares of Approach Resources in a research note on Tuesday, September 26th. Imperial Capital assumed coverage on Approach Resources in a research note on Friday, August 18th. They issued an “in-line” rating and a $2.50 price target for the company. Finally, Scotiabank reissued a “hold” rating and issued a $3.00 price target on shares of Approach Resources in a research note on Wednesday, November 22nd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.79.

Shares of Approach Resources (NASDAQ:AREX) remained flat at $$2.57 during midday trading on Thursday. 1,001,132 shares of the company traded hands, compared to its average volume of 751,315. Approach Resources has a 52-week low of $1.93 and a 52-week high of $3.89. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.69.

In other Approach Resources news, major shareholder Wilks Brothers, Llc purchased 200,000 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was bought at an average cost of $2.39 per share, for a total transaction of $478,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 939,398 shares of company stock valued at $2,304,970. Corporate insiders own 5.10% of the company’s stock.

Several hedge funds have recently modified their holdings of AREX. Virtu KCG Holdings LLC raised its stake in shares of 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 purchasing an additional 20,705 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Approach Resources in the second quarter valued at $154,000. Kornitzer Capital Management Inc. KS raised its stake in shares of Approach Resources by 68.1% in the third quarter. Kornitzer Capital Management Inc. KS now owns 61,700 shares of the energy company’s stock valued at $155,000 after purchasing an additional 25,000 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Approach Resources in the second quarter valued at $157,000. Finally, Parametric Portfolio Associates LLC raised its stake in shares of 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 purchasing an additional 6,781 shares in the last quarter. Institutional investors own 24.67% of the company’s stock.

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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.

Earnings History and Estimates for Approach Resources (NASDAQ:AREX)

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