Approach Resources Inc. (NASDAQ:AREX) shares hit a new 52-week low on Thursday . The stock traded as low as $2.02 and last traded at $2.04, with a volume of 2875 shares. The stock had previously closed at $2.08.

AREX has been the topic of several research reports. Zacks Investment Research raised Approach Resources from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research report on Tuesday, July 10th. BidaskClub lowered Approach Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, June 5th. KLR Group reissued a “hold” rating and issued a $3.00 price objective on shares of Approach Resources in a research report on Monday, August 20th. Finally, ValuEngine raised Approach Resources from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Seven investment analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average price target of $3.19.

The company has a debt-to-equity ratio of 0.64, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a market cap of $195.59 million, a P/E ratio of -5.67 and a beta of 2.70.

Approach Resources (NASDAQ:AREX) last released its quarterly earnings data on Wednesday, August 1st. The energy company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). Approach Resources had a negative return on equity of 4.52% and a net margin of 18.38%. The company had revenue of $30.33 million for the quarter, compared to analyst estimates of $28.16 million. analysts anticipate that Approach Resources Inc. will post -0.32 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in Approach Resources by 49.7% in the second quarter. Bank of New York Mellon Corp now owns 265,861 shares of the energy company’s stock valued at $649,000 after purchasing an additional 88,295 shares during the period. BlackRock Inc. increased its position in shares of Approach Resources by 11.5% during the second quarter. BlackRock Inc. now owns 3,504,971 shares of the energy company’s stock worth $8,551,000 after acquiring an additional 361,169 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Approach Resources by 83.1% during the second quarter. GSA Capital Partners LLP now owns 200,306 shares of the energy company’s stock worth $489,000 after acquiring an additional 90,900 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position in shares of Approach Resources by 12.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 7,573,403 shares of the energy company’s stock worth $19,767,000 after acquiring an additional 848,180 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of Approach Resources during the first quarter worth about $268,000. 75.07% of the stock is currently owned by institutional investors.

Approach Resources Company Profile (NASDAQ:AREX)

Approach Resources, Inc, an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional oil and gas reserves in the United States. The company's properties are primarily located in the Permian Basin in west Texas. It also owns interests in east Texas Basin.

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