Approach Resources Inc. (NASDAQ:AREX) – Analysts at Imperial Capital raised their Q1 2018 earnings per share estimates for Approach Resources in a report released on Monday. Imperial Capital analyst I. Haas now expects that the energy company will post earnings per share of ($0.06) for the quarter, up from their previous estimate of ($0.08). Imperial Capital also issued estimates for Approach Resources’ Q2 2018 earnings at ($0.06) EPS, Q3 2018 earnings at ($0.06) EPS, Q4 2018 earnings at ($0.06) EPS and FY2018 earnings at ($0.24) EPS.
Approach Resources (NASDAQ:AREX) last announced its quarterly earnings results on Thursday, March 8th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $28.40 million for the quarter, compared to analyst estimates of $28.08 million. Approach Resources had a negative net margin of 106.65% and a negative return on equity of 5.33%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.27) EPS.
Shares of Approach Resources (NASDAQ:AREX) opened at $2.58 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.41 and a debt-to-equity ratio of 0.61. Approach Resources has a 1-year low of $1.95 and a 1-year high of $4.21.
In other Approach Resources news, major shareholder Wilks Brothers, Llc bought 200,000 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The shares were acquired at an average cost of $4.04 per share, for a total transaction of $808,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have purchased 3,150,000 shares of company stock worth $9,500,000. 5.10% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of AREX. Kayne Anderson Capital Advisors LP acquired a new stake in Approach Resources during the 4th quarter worth approximately $19,907,000. State Street Corp boosted its position 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 worth $1,657,000 after buying an additional 469,552 shares during the period. Northern Trust Corp boosted its position in Approach Resources by 264.2% during the 2nd quarter. Northern Trust Corp now owns 557,713 shares of the energy company’s stock worth $1,879,000 after buying an additional 404,580 shares during the period. Vanguard Group Inc. boosted its position in Approach Resources by 21.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,959,374 shares of the energy company’s stock worth $6,603,000 after buying an additional 347,986 shares during the period. Finally, TIAA CREF Investment Management LLC acquired a new stake in Approach Resources during the 2nd quarter worth approximately $699,000. Institutional investors and hedge funds own 31.30% of the company’s stock.
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.
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