Approach Resources Inc. (NASDAQ:AREX) insider Wilks Brothers, Llc acquired 350,000 shares of Approach Resources stock in a transaction dated Friday, January 5th. The stock was purchased at an average price of $3.18 per share, with a total value of $1,113,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Wednesday, January 3rd, Wilks Brothers, Llc acquired 150,000 shares of Approach Resources stock. The stock was purchased at an average price of $3.20 per share, with a total value of $480,000.00.
  • On Friday, December 28th, Wilks Brothers, Llc acquired 150,000 shares of Approach Resources stock. The stock was purchased at an average price of $3.09 per share, with a total value of $463,500.00.
  • On Wednesday, December 26th, Wilks Brothers, Llc acquired 150,000 shares of Approach Resources stock. The stock was purchased at an average price of $3.05 per share, with a total value of $457,500.00.
  • On Wednesday, December 27th, Wilks Brothers, Llc acquired 350,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.86 per share, with a total value of $1,001,000.00.
  • On Wednesday, December 20th, Wilks Brothers, Llc acquired 600,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.81 per share, with a total value of $1,686,000.00.
  • On Friday, December 15th, Wilks Brothers, Llc acquired 200,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.57 per share, with a total value of $514,000.00.
  • On Monday, December 18th, Wilks Brothers, Llc acquired 550,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.59 per share, with a total value of $1,424,500.00.
  • On Monday, December 11th, Wilks Brothers, Llc acquired 50,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.53 per share, with a total value of $126,500.00.
  • On Wednesday, December 6th, Wilks Brothers, Llc acquired 29,285 shares of Approach Resources stock. The stock was purchased at an average price of $2.39 per share, with a total value of $69,991.15.
  • On Monday, December 4th, Wilks Brothers, Llc acquired 200,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.39 per share, with a total value of $478,000.00.

Shares of Approach Resources Inc. (NASDAQ:AREX) traded down $0.02 during mid-day trading on Friday, reaching $3.16. 375,007 shares of the company were exchanged, compared to its average volume of 613,975. Approach Resources Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $3.56. The company has a market capitalization of $275.12, a price-to-earnings ratio of -1.25 and a beta of 2.67. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.41 and a quick ratio of 0.41.

Approach Resources (NASDAQ:AREX) last announced its earnings results on Wednesday, November 1st. The energy company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. Approach Resources had a negative net margin of 165.95% and a negative return on equity of 6.39%. The business had revenue of $25.61 million for the quarter, compared to analyst estimates of $25.74 million. equities analysts anticipate that Approach Resources Inc. will post -0.36 EPS for the current fiscal year.

A number of analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Approach Resources from a “hold” rating to a “sell” rating in a research note on Monday, October 9th. KeyCorp reaffirmed a “hold” rating on shares of Approach Resources in a research report on Thursday, October 12th. Scotiabank reaffirmed a “hold” rating and set a $3.00 target price on shares of Approach Resources in a research report on Wednesday, November 22nd. ValuEngine lowered shares of Approach Resources from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $4.00 target price on shares of Approach Resources in a research report on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $2.88.

A number of hedge funds have recently made changes to their positions in AREX. Virtu KCG Holdings LLC increased its holdings in Approach Resources by 182.8% in the 2nd quarter. Virtu KCG Holdings LLC now owns 32,033 shares of the energy company’s stock valued at $108,000 after buying an additional 20,705 shares during the period. New York State Common Retirement Fund bought a new stake in Approach Resources in the 2nd quarter valued at $154,000. Kornitzer Capital Management Inc. KS increased its holdings in Approach Resources by 68.1% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 61,700 shares of the energy company’s stock valued at $155,000 after buying an additional 25,000 shares during the period. Rhumbline Advisers bought a new stake in Approach Resources in the 2nd quarter valued at $157,000. Finally, Parametric Portfolio Associates LLC increased its holdings in Approach Resources by 14.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 53,322 shares of the energy company’s stock valued at $180,000 after buying an additional 6,781 shares during the period. 24.63% of the stock is currently owned by institutional investors and hedge funds.

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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.

Insider Buying and Selling by Quarter for Approach Resources (NASDAQ:AREX)

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