Approach Resources Inc. (NASDAQ:AREX) major shareholder Wilks Brothers, Llc bought 200,000 shares of the stock in a transaction that occurred on Friday, January 12th. The shares were acquired at an average cost of $4.04 per share, with a total value of $808,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Wednesday, January 10th, Wilks Brothers, Llc bought 450,000 shares of Approach Resources stock. The shares were acquired at an average cost of $3.45 per share, with a total value of $1,552,500.00.
  • On Wednesday, January 3rd, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. The shares were purchased at an average cost of $3.20 per share, with a total value of $480,000.00.
  • On Friday, January 5th, Wilks Brothers, Llc purchased 350,000 shares of Approach Resources stock. The shares were purchased at an average cost of $3.18 per share, with a total value of $1,113,000.00.
  • On Friday, December 28th, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. The shares were purchased at an average cost of $3.09 per share, with a total value of $463,500.00.
  • On Wednesday, December 26th, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. The shares were purchased at an average cost of $3.05 per share, with a total value of $457,500.00.
  • On Wednesday, December 27th, Wilks Brothers, Llc purchased 350,000 shares of Approach Resources stock. The shares were purchased at an average cost of $2.86 per share, with a total value of $1,001,000.00.
  • On Wednesday, December 20th, Wilks Brothers, Llc purchased 600,000 shares of Approach Resources stock. The shares were purchased at an average cost of $2.81 per share, with a total value of $1,686,000.00.
  • On Friday, December 15th, Wilks Brothers, Llc purchased 200,000 shares of Approach Resources stock. The shares were purchased at an average cost of $2.57 per share, with a total value of $514,000.00.
  • On Monday, December 18th, Wilks Brothers, Llc purchased 550,000 shares of Approach Resources stock. The shares were purchased at an average cost of $2.59 per share, with a total value of $1,424,500.00.
  • On Monday, December 11th, Wilks Brothers, Llc purchased 50,000 shares of Approach Resources stock. The shares were purchased at an average cost of $2.53 per share, with a total value of $126,500.00.

Approach Resources Inc. (NASDAQ AREX) traded down $0.02 during midday trading on Friday, hitting $3.91. The stock had a trading volume of 1,850,159 shares, compared to its average volume of 967,211. The firm has a market cap of $338.27, a P/E ratio of -1.55 and a beta of 2.67. 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 Inc. has a 12 month low of $1.93 and a 12 month high of $4.21.

Approach Resources (NASDAQ:AREX) last released its quarterly earnings data on Wednesday, November 1st. The energy company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $25.61 million during the quarter, compared to the consensus estimate of $25.74 million. Approach Resources had a negative return on equity of 6.39% and a negative net margin of 165.95%. equities analysts predict that Approach Resources Inc. will post -0.36 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS boosted its holdings in shares of 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 last quarter. California State Teachers Retirement System acquired a new stake in shares of Approach Resources in the 2nd quarter valued at approximately $257,000. State Street Corp lifted its holdings in Approach Resources by 2,151.6% during the 2nd quarter. State Street Corp now owns 491,375 shares of the energy company’s stock valued at $1,657,000 after purchasing an additional 469,552 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in Approach Resources during the 2nd quarter valued at $910,000. Finally, Virtu KCG Holdings LLC lifted its holdings in Approach Resources by 182.8% during the 2nd 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 during the last quarter. 24.63% of the stock is owned by institutional investors.

A number of research firms have weighed in on AREX. BidaskClub raised Approach Resources from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised Approach Resources from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a research report on Friday. ValuEngine downgraded Approach Resources from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Robert W. Baird reaffirmed a “hold” rating and set a $4.00 price target on shares of Approach Resources in a research report on Tuesday, September 26th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Approach Resources in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Approach Resources has an average rating of “Hold” and a consensus price target of $3.08.

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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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