Wilks Brothers, LLC

stated that they own 45.9% of Approach Resources Inc. (NASDAQ:AREX) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission on Tuesday, December 19th. The investor owns 43,139,713 shares of the stock worth $117,771,416. The reporting parties listed on the disclosure included Wilks Brothers, LLC, SDW Investments, LLC, Dan H Wilks, Staci Wilks and Farris Wilks. The filing is available through Edgar at this link.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtu KCG Holdings LLC increased its stake in shares of Approach Resources by 182.8% in the second quarter. Virtu KCG Holdings LLC now owns 32,033 shares of the energy company’s stock worth $108,000 after buying an additional 20,705 shares during the last quarter. New York State Common Retirement Fund bought a new stake in shares of Approach Resources in the second quarter worth $154,000. Kornitzer Capital Management Inc. KS increased its stake in shares of Approach Resources by 68.1% in the third quarter. Kornitzer Capital Management Inc. KS now owns 61,700 shares of the energy company’s stock worth $155,000 after buying an additional 25,000 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Approach Resources in the second quarter worth $157,000. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Approach Resources by 14.6% in the second quarter. Parametric Portfolio Associates LLC now owns 53,322 shares of the energy company’s stock worth $180,000 after buying an additional 6,781 shares during the last quarter. 24.63% of the stock is currently owned by institutional investors and hedge funds.

In other news, major shareholder Wilks Brothers, Llc purchased 200,000 shares of Approach Resources stock in a transaction dated Monday, December 4th. The stock was bought at an average price of $2.39 per share, with a total value of $478,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have bought 1,689,398 shares of company stock valued at $4,243,470. Corporate insiders own 5.10% of the company’s stock.

AREX has been the subject of a number of research analyst reports. ValuEngine lowered shares of Approach Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Approach Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Robert W. Baird reiterated a “hold” rating and set a $4.00 target price on shares of Approach Resources in a research note on Tuesday, September 26th. KeyCorp reiterated a “hold” rating on shares of Approach Resources in a research note on Thursday, October 12th. Finally, Scotiabank reiterated a “hold” rating and set a $3.00 target price on shares of Approach Resources in a research note on Wednesday, November 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $2.79.

Approach Resources Inc. (NASDAQ:AREX) traded up $0.03 during mid-day trading on Tuesday, reaching $2.73. 1,194,000 shares of the company’s stock traded hands, compared to its average volume of 756,249. 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 Inc. has a 12-month low of $1.93 and a 12-month high of $3.84.

Approach Resources (NASDAQ:AREX) last released its earnings results on Wednesday, November 1st. The energy company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. Approach Resources had a negative net margin of 165.95% and a negative return on equity of 6.39%. The firm had revenue of $25.61 million during the quarter, compared to analyst estimates of $25.74 million. equities research analysts predict that Approach Resources Inc. will post -0.37 earnings per share for the current fiscal year.

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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.

Institutional Ownership by Quarter for Approach Resources (NASDAQ:AREX)

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