Seaport Global Securities reaffirmed their neutral rating on shares of Approach Resources Inc. (NDAQ:AREX) in a research report report published on Thursday morning, reports. They currently have a $3.50 target price on the stock.

Approach Resources (NDAQ:AREX) traded down 1.53% during mid-day trading on Thursday, reaching $3.21. 352,669 shares of the company’s stock were exchanged. The firm’s market cap is $133.57 million. Approach Resources has a 12 month low of $0.60 and a 12 month high of $4.35. The stock has a 50-day moving average of $3.25 and a 200-day moving average of $3.11.

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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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