Wall Street brokerages expect Approach Resources Inc. (NASDAQ:AREX) to announce earnings per share of ($0.07) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Approach Resources’ earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.08). Approach Resources posted earnings per share of ($0.27) during the same quarter last year, which would suggest a positive year over year growth rate of 74.1%. The firm is scheduled to report its next earnings results on Thursday, March 8th.

On average, analysts expect that Approach Resources will report full year earnings of ($0.36) per share for the current financial year, with EPS estimates ranging from ($0.37) to ($0.33). For the next year, analysts expect that the business will post earnings of ($0.21) per share, with EPS estimates ranging from ($0.32) to ($0.03). Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Approach Resources.

Approach Resources (NASDAQ:AREX) last posted its quarterly earnings results on Wednesday, November 1st. The energy company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Approach Resources had a negative return on equity of 6.39% and a negative net margin of 165.95%. The business had revenue of $25.61 million for the quarter, compared to analyst estimates of $25.74 million.

A number of equities research analysts have recently weighed in on the company. ValuEngine lowered Approach Resources from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Approach Resources from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research report on Monday, December 25th. Robert W. Baird reiterated a “hold” rating and issued a $4.00 price objective on shares of Approach Resources in a research report on Tuesday, September 26th. KeyCorp reiterated a “hold” rating on shares of Approach Resources in a research report on Thursday, October 12th. Finally, Scotiabank reiterated a “hold” rating and issued a $3.00 price objective on shares of Approach Resources in a research report on Wednesday, November 22nd. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $2.88.

In related news, insider Wilks Brothers, Llc acquired 660,113 shares of the stock in a transaction on Wednesday, December 13th. The stock was acquired at an average price of $2.47 per share, for a total transaction of $1,630,479.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 3,439,398 shares of company stock valued at $9,444,470 in the last quarter. 5.10% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. purchased a new position in Approach Resources during the second quarter valued at $252,000. Balyasny Asset Management LLC purchased a new position in Approach Resources during the second quarter valued at $910,000. Teachers Advisors LLC purchased a new position in Approach Resources during the second quarter valued at $562,000. Bank of New York Mellon Corp raised its stake in Approach Resources by 412.6% during the second quarter. Bank of New York Mellon Corp now owns 195,714 shares of the energy company’s stock valued at $660,000 after buying an additional 157,534 shares during the last quarter. Finally, TIAA CREF Investment Management LLC purchased a new position in Approach Resources during the second quarter valued at $699,000. Institutional investors and hedge funds own 24.63% of the company’s stock.

Approach Resources (AREX) opened at $3.16 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.69. Approach Resources has a 1 year low of $1.93 and a 1 year high of $3.69. The stock has a market capitalization of $273.39, a P/E ratio of -1.25 and a beta of 2.67.

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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.

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