Media stories about Approach Resources (NASDAQ:AREX) have trended somewhat positive on Friday, according to AlphaOne Sentiment. The research firm, a unit of Accern, identifies negative and positive news coverage by monitoring more than twenty million blog and news sources in real-time. AlphaOne ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Approach Resources earned a media sentiment score of 0.08 on AlphaOne’s scale. AlphaOne also gave media headlines about the energy company an impact score of 87 out of 100, indicating that recent news coverage is very likely to have an impact on the company’s share price in the near term.
These are some of the media headlines that may have impacted Alpha One’s rankings:
- Approach Resources Inc. (AREX) Given Average Recommendation of “Hold” by Analysts (americanbankingnews.com)
- Wilks Brothers, Llc Purchases 150,000 Shares of Approach Resources Inc. (AREX) Stock (americanbankingnews.com)
- Is Approach Resources Inc. (NASDAQ:AREX) a raw deal … – FinancialsTrend (financialstrend.com)
- Approach Resources Inc. (AREX) Stock Rating Reaffirmed by Scotiabank (americanbankingnews.com)
- Insider Trading Activity Approach Resources Inc. (NASDAQ:AREX) – Insider Bought 150,000 shares of Stock (4-traders.com)
Approach Resources (NASDAQ:AREX) traded up 2.11% on Friday, reaching $2.91. 222,502 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $2.46 and its 200-day moving average is $2.91. Approach Resources has a 12 month low of $1.35 and a 12 month high of $4.35. The firm’s market cap is $204.89 million.
Approach Resources (NASDAQ:AREX) last issued its earnings results on Thursday, May 4th. The energy company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $26.40 million during the quarter, compared to analysts’ expectations of $25.96 million. Approach Resources had a negative net margin of 49.87% and a negative return on equity of 6.45%. The business’s revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.32) EPS. On average, equities analysts forecast that Approach Resources will post ($0.32) earnings per share for the current year.
Several research analysts have issued reports on AREX shares. KLR Group raised Approach Resources from an “accumulate” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Friday, January 20th. Zacks Investment Research upgraded shares of Approach Resources from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research report on Thursday, March 2nd. Seaport Global Securities reiterated a “neutral” rating and set a $3.50 price objective on shares of Approach Resources in a research report on Thursday, February 16th. Finally, Scotiabank set a $3.00 price objective on shares of Approach Resources and gave the stock a “hold” rating in a research report on Monday, March 27th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $3.85.
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In other news, insider Wilks Brothers, Llc bought 200,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was bought at an average cost of $2.81 per share, for a total transaction of $562,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Vean J. Gregg III bought 10,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was purchased at an average price of $3.00 per share, with a total value of $30,000.00. Following the completion of the transaction, the director now directly owns 131,749 shares in the company, valued at approximately $395,247. The disclosure for this purchase can be found here. Insiders bought a total of 510,000 shares of company stock valued at $1,492,000 over the last 90 days. Corporate insiders own 7.80% of the company’s stock.
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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