Approach Resources Inc. (NASDAQ:AREX) insider Wilks Brothers, Llc bought 288,000 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was purchased at an average price of $2.58 per share, with a total value of $743,040.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

  • On Tuesday, June 20th, Wilks Brothers, Llc bought 100,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.56 per share, with a total value of $256,000.00.
  • On Monday, June 19th, Wilks Brothers, Llc bought 88,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.72 per share, with a total value of $239,360.00.
  • On Friday, June 16th, Wilks Brothers, Llc bought 300,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.79 per share, with a total value of $837,000.00.
  • On Tuesday, June 13th, Wilks Brothers, Llc bought 350,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.77 per share, with a total value of $969,500.00.
  • On Thursday, June 8th, Wilks Brothers, Llc bought 300,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.70 per share, with a total value of $810,000.00.
  • On Friday, June 2nd, Wilks Brothers, Llc bought 200,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.61 per share, with a total value of $522,000.00.
  • On Tuesday, May 30th, Wilks Brothers, Llc purchased 100,000 shares of Approach Resources stock. The stock was bought at an average cost of $2.70 per share, with a total value of $270,000.00.
  • On Thursday, May 25th, Wilks Brothers, Llc purchased 375,000 shares of Approach Resources stock. The stock was bought at an average cost of $2.79 per share, with a total value of $1,046,250.00.
  • On Friday, May 19th, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. The stock was bought at an average cost of $2.89 per share, with a total value of $433,500.00.
  • On Tuesday, May 16th, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. The stock was bought at an average cost of $3.03 per share, with a total value of $454,500.00.

Shares of Approach Resources Inc. (AREX) traded down 8.43% during mid-day trading on Wednesday, hitting $2.39. 1,430,621 shares of the company were exchanged. The company’s 50-day moving average price is $2.69 and its 200-day moving average price is $2.86. Approach Resources Inc. has a 12-month low of $1.35 and a 12-month high of $4.35. The firm’s market capitalization is $168.28 million.

Approach Resources (NASDAQ:AREX) last released its quarterly earnings results on Thursday, May 4th. The energy company reported ($0.11) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.11). The firm had revenue of $26.40 million during the quarter, compared to the consensus estimate of $25.96 million. Approach Resources had a negative net margin of 181.09% and a negative return on equity of 6.87%. The company’s revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.32) earnings per share. Equities research analysts predict that Approach Resources Inc. will post ($0.32) earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Approach Resources (NASDAQ:AREX)

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Several large investors have recently bought and sold shares of AREX. Spark Investment Management LLC boosted its stake in Approach Resources by 73.7% in the first quarter. Spark Investment Management LLC now owns 570,900 shares of the energy company’s stock worth $1,432,000 after buying an additional 242,300 shares during the last quarter. Schroder Investment Management Group acquired a new position in Approach Resources during the first quarter worth $174,000. KBC Group NV raised its position in Approach Resources by 78.8% in the first quarter. KBC Group NV now owns 250,048 shares of the energy company’s stock worth $628,000 after buying an additional 110,170 shares during the period. Airain ltd acquired a new position in Approach Resources during the first quarter worth $166,000. Finally, Eagle Global Advisors LLC raised its position in Approach Resources by 18.9% in the first quarter. Eagle Global Advisors LLC now owns 77,638 shares of the energy company’s stock worth $195,000 after buying an additional 12,350 shares during the period. Institutional investors own 25.32% of the company’s stock.

A number of analysts recently weighed in on AREX shares. KLR Group reissued a “buy” rating and issued a $4.00 price target (down previously from $4.25) on shares of Approach Resources in a report on Tuesday, March 14th. Zacks Investment Research raised shares of Approach Resources from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Thursday, March 2nd. Scotiabank set a $3.00 price target on shares of Approach Resources and gave the company a “hold” rating in a report on Monday, March 27th. Seaport Global Securities lowered shares of Approach Resources from a “neutral” rating to a “sell” rating and lowered their price target for the company from $3.00 to $0.50 in a report on Wednesday. Finally, ValuEngine lowered shares of Approach Resources from a “hold” rating to a “sell” rating in a report on Thursday, June 1st. 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 stock has an average rating of “Hold” and an average target price of $3.25.

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.

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