Somewhat Positive News Coverage Somewhat Unlikely to Affect Approach Resources (AREX) Share Price
Press coverage about Approach Resources (NASDAQ:AREX) has been trending somewhat positive on Thursday, according to Accern. The research firm rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Approach Resources earned a coverage optimism score of 0.16 on Accern’s scale. Accern also gave press coverage about the energy company an impact score of 45.8590935495002 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:
- Approach Resources Insiders Are Buying Like Mad – Seeking Alpha (seekingalpha.com)
- Technical Indicators Check on Shares of Approach Resources Inc (AREX) – Danville Daily (danvilledaily.com)
- Approach Resources Inc. (AREX) Cut to Sell at Zacks Investment Research (americanbankingnews.com)
- What The Sell-Side Thinks Of Approach Resources, Inc. (AREX), W&T Offshore, Inc. (WTI) – StockNewsMagazine (stocknewsmagazine.com)
- Shares at a Glance: Technical Update on Approach Resources Inc (AREX) – Berry Recorder (berryrecorder.com)
Approach Resources (NASDAQ AREX) opened at 3.03 on Thursday. Approach Resources has a one year low of $1.35 and a one year high of $4.35. The firm’s market capitalization is $213.34 million. The stock has a 50 day moving average price of $2.85 and a 200 day moving average price of $2.77.
Approach Resources (NASDAQ:AREX) last issued its quarterly earnings results on Thursday, May 4th. The energy company reported ($0.11) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.11). The firm had revenue of $26.40 million for the quarter, compared to analyst estimates of $25.96 million. Approach Resources had a negative net margin of 181.09% and a negative return on equity of 6.87%. The business’s revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.32) EPS. On average, equities analysts predict that Approach Resources will post ($0.24) EPS for the current fiscal year.
AREX has been the topic of a number of recent research reports. Zacks Investment Research downgraded Approach Resources from a “hold” rating to a “sell” rating in a report on Tuesday. Scotiabank set a $3.00 price objective on Approach Resources and gave the company a “hold” rating in a report on Saturday, May 6th. ValuEngine raised Approach Resources from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Finally, Seaport Global Securities downgraded Approach Resources from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $3.00 to $0.50 in a report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $3.20.
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In related news, insider Wilks Brothers, Llc purchased 200,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were purchased at an average price of $2.81 per share, with a total value of $562,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Vean J. Gregg III purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was bought at an average cost of $3.00 per share, for a total transaction of $30,000.00. Following the acquisition, the director now directly owns 131,749 shares in the company, valued at $395,247. The disclosure for this purchase can be found here. Insiders bought a total of 2,861,000 shares of company stock worth $7,860,650 in the last three months. 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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