Approach Resources Inc. (NASDAQ:AREX) insider Wilks Brothers, Llc bought 450,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The shares were bought at an average price of $3.45 per share, with a total value of $1,552,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Wednesday, January 3rd, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The shares were bought at an average price of $3.20 per share, with a total value of $480,000.00.
  • On Friday, January 5th, Wilks Brothers, Llc bought 350,000 shares of Approach Resources stock. The shares were bought at an average price of $3.18 per share, with a total value of $1,113,000.00.
  • On Friday, December 28th, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The shares were bought at an average price of $3.09 per share, with a total value of $463,500.00.
  • On Wednesday, December 26th, Wilks Brothers, Llc acquired 150,000 shares of Approach Resources stock. The stock was acquired at an average price of $3.05 per share, with a total value of $457,500.00.
  • On Wednesday, December 27th, Wilks Brothers, Llc acquired 350,000 shares of Approach Resources stock. The stock was acquired at an average price of $2.86 per share, with a total value of $1,001,000.00.
  • On Wednesday, December 20th, Wilks Brothers, Llc acquired 600,000 shares of Approach Resources stock. The stock was acquired at an average price of $2.81 per share, with a total value of $1,686,000.00.
  • On Friday, December 15th, Wilks Brothers, Llc acquired 200,000 shares of Approach Resources stock. The stock was acquired at an average price of $2.57 per share, with a total value of $514,000.00.
  • On Monday, December 18th, Wilks Brothers, Llc acquired 550,000 shares of Approach Resources stock. The stock was acquired at an average price of $2.59 per share, with a total value of $1,424,500.00.
  • On Monday, December 11th, Wilks Brothers, Llc acquired 50,000 shares of Approach Resources stock. The stock was acquired at an average price of $2.53 per share, with a total value of $126,500.00.
  • On Wednesday, December 6th, Wilks Brothers, Llc acquired 29,285 shares of Approach Resources stock. The stock was acquired at an average price of $2.39 per share, with a total value of $69,991.15.

Shares of Approach Resources Inc. (NASDAQ AREX) traded up $0.39 during trading hours on Friday, hitting $3.93. The stock had a trading volume of 1,938,900 shares, compared to its average volume of 856,850. Approach Resources Inc. has a 12-month low of $1.93 and a 12-month high of $4.01. The company has a market cap of $351.68, a price-to-earnings ratio of -1.56 and a beta of 2.67. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.41 and a quick ratio of 0.41.

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

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Approach Resources by 21.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,959,374 shares of the energy company’s stock worth $6,603,000 after acquiring an additional 347,986 shares in the last quarter. California Public Employees Retirement System raised its position 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 worth $4,294,000 after acquiring an additional 27,600 shares in the last quarter. Northern Trust Corp raised its position in shares of Approach Resources by 264.2% in the 2nd quarter. Northern Trust Corp now owns 557,713 shares of the energy company’s stock worth $1,879,000 after acquiring an additional 404,580 shares in the last quarter. State Street Corp raised its position in shares of Approach Resources by 2,151.6% in the 2nd quarter. State Street Corp now owns 491,375 shares of the energy company’s stock worth $1,657,000 after acquiring an additional 469,552 shares in the last quarter. Finally, Balyasny Asset Management LLC bought a new position in shares of Approach Resources in the 2nd quarter worth approximately $910,000. 24.63% of the stock is owned by hedge funds and other institutional investors.

Several research firms have weighed in on AREX. BidaskClub upgraded Approach Resources from a “hold” rating to a “buy” rating in a report on Thursday. Robert W. Baird reiterated a “hold” rating and issued a $4.00 price objective on shares of Approach Resources in a report on Tuesday, September 26th. Zacks Investment Research cut Approach Resources from a “buy” rating to a “hold” rating in a report on Thursday. ValuEngine cut Approach Resources from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Finally, KeyCorp reiterated a “hold” rating on shares of Approach Resources in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Approach Resources presently has an average rating of “Hold” and a consensus target price of $2.88.

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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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