Approach Resources Inc. (AREX) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Approach Resources Inc. (NASDAQ:AREX) from a hold rating to a sell rating in a research report report published on Monday morning.

According to Zacks, “Approach Resources Inc. is an independent energy company engaged in the exploration, development, exploitation, production and acquisition of unconventional natural gas and oil properties onshore in the United States and Western Canada. The Company focuses its growth efforts primarily on finding and developing natural gas reserves in known tight gas sands and shale areas. The Company currently operates in Texas, New Mexico and Kentucky and has a non-operating interest in Western Canada. “

Other research analysts also recently issued research reports about the stock. Scotiabank set a $3.00 price target on shares of Approach Resources and gave the stock a hold rating in a research report on Saturday, July 1st. Seaport Global Securities downgraded shares of Approach Resources from a neutral rating to a sell rating and dropped their price target for the stock from $3.00 to $0.50 in a research report on Wednesday, June 21st. ValuEngine upgraded shares of Approach Resources from a sell rating to a hold rating in a research report on Saturday, July 1st. Robert W. Baird restated a hold rating and issued a $4.00 price target on shares of Approach Resources in a research report on Tuesday, September 26th. Finally, BidaskClub downgraded shares of Approach Resources from a hold rating to a sell rating in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Approach Resources presently has an average rating of Hold and a consensus target price of $3.25.

Shares of Approach Resources (AREX) opened at 2.48 on Monday. The company’s market cap is $214.12 million. The firm has a 50-day moving average of $2.61 and a 200 day moving average of $2.66. Approach Resources has a 52 week low of $1.93 and a 52 week high of $4.33.

Approach Resources (NASDAQ:AREX) last issued its quarterly earnings results on Wednesday, August 2nd. The energy company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). The firm had revenue of $24.97 million during the quarter, compared to analyst estimates of $25.86 million. Approach Resources had a negative return on equity of 6.84% and a negative net margin of 169.54%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.25) EPS. Equities analysts anticipate that Approach Resources will post ($0.29) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Approach Resources Inc. (AREX) Lowered to “Sell” at Zacks Investment Research” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/10/approach-resources-inc-arex-lowered-to-sell-at-zacks-investment-research.html.

Several large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its stake in shares of Approach Resources by 2.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 105,432 shares of the energy company’s stock valued at $355,000 after acquiring an additional 2,703 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of 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 acquiring an additional 6,781 shares in the last quarter. Edge Wealth Management LLC increased its stake in shares of Approach Resources by 25.0% in the 2nd quarter. Edge Wealth Management LLC now owns 50,000 shares of the energy company’s stock valued at $161,000 after acquiring an additional 10,000 shares in the last quarter. Virtu KCG Holdings LLC increased its stake in shares of 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 acquiring an additional 20,705 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Approach Resources by 2.2% in the 2nd quarter. California Public Employees Retirement System now owns 1,274,300 shares of the energy company’s stock valued at $4,294,000 after acquiring an additional 27,600 shares in the last quarter. Institutional investors own 24.34% 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 (N

According to Zacks, “Approach Resources Inc. is an independent energy company engaged in the exploration, development, exploitation, production and acquisition of unconventional natural gas and oil properties onshore in the United States and Western Canada. The Company focuses its growth efforts primarily on finding and developing natural gas reserves in known tight gas sands and shale areas. The Company currently operates in Texas, New Mexico and Kentucky and has a non-operating interest in Western Canada. “

Other research analysts also recently issued research reports about the stock. Scotiabank set a $3.00 price target on shares of Approach Resources and gave the stock a hold rating in a research report on Saturday, July 1st. Seaport Global Securities downgraded shares of Approach Resources from a neutral rating to a sell rating and dropped their price target for the stock from $3.00 to $0.50 in a research report on Wednesday, June 21st. ValuEngine upgraded shares of Approach Resources from a sell rating to a hold rating in a research report on Saturday, July 1st. Robert W. Baird restated a hold rating and issued a $4.00 price target on shares of Approach Resources in a research report on Tuesday, September 26th. Finally, BidaskClub downgraded shares of Approach Resources from a hold rating to a sell rating in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Approach Resources presently has an average rating of Hold and a consensus target price of $3.25.

Shares of Approach Resources (AREX) opened at 2.48 on Monday. The company’s market cap is $214.12 million. The firm has a 50-day moving average of $2.61 and a 200 day moving average of $2.66. Approach Resources has a 52 week low of $1.93 and a 52 week high of $4.33.

Approach Resources (NASDAQ:AREX) last issued its quarterly earnings results on Wednesday, August 2nd. The energy company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). The firm had revenue of $24.97 million during the quarter, compared to analyst estimates of $25.86 million. Approach Resources had a negative return on equity of 6.84% and a negative net margin of 169.54%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.25) EPS. Equities analysts anticipate that Approach Resources will post ($0.29) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Approach Resources Inc. (AREX) Lowered to “Sell” at Zacks Investment Research” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/10/approach-resources-inc-arex-lowered-to-sell-at-zacks-investment-research.html.

Several large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its stake in shares of Approach Resources by 2.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 105,432 shares of the energy company’s stock valued at $355,000 after acquiring an additional 2,703 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of 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 acquiring an additional 6,781 shares in the last quarter. Edge Wealth Management LLC increased its stake in shares of Approach Resources by 25.0% in the 2nd quarter. Edge Wealth Management LLC now owns 50,000 shares of the energy company’s stock valued at $161,000 after acquiring an additional 10,000 shares in the last quarter. Virtu KCG Holdings LLC increased its stake in shares of 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 acquiring an additional 20,705 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Approach Resources by 2.2% in the 2nd quarter. California Public Employees Retirement System now owns 1,274,300 shares of the energy company’s stock valued at $4,294,000 after acquiring an additional 27,600 shares in the last quarter. Institutional investors own 24.34% 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.

Analyst Recommendations for Approach Resources (NASDAQ:AREX)

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