Approach Resources Inc. Expected to Post Q1 2019 Earnings of $0.00 Per Share (AREX)
Approach Resources Inc. (NASDAQ:AREX) – Equities research analysts at KeyCorp issued their Q1 2019 earnings estimates for Approach Resources in a report released on Tuesday. KeyCorp analyst D. Deckelbaum expects that the energy company will post earnings per share of $0.00 for the quarter. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Approach Resources’ Q2 2019 earnings at $0.00 EPS and Q3 2019 earnings at $0.01 EPS.
Approach Resources (NASDAQ:AREX) last announced its quarterly earnings results on Wednesday, November 1st. The energy company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $25.61 million for the quarter, compared to analysts’ expectations of $25.74 million. Approach Resources had a negative net margin of 165.95% and a negative return on equity of 6.39%.
Shares of Approach Resources (NASDAQ AREX) traded up $0.02 during mid-day trading on Thursday, reaching $2.59. 1,055,270 shares of the company’s stock traded hands, compared to its average volume of 752,570. Approach Resources has a 1-year low of $1.93 and a 1-year high of $3.89. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.41 and a current ratio of 0.41.
In other Approach Resources news, major shareholder Wilks Brothers, Llc acquired 200,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were purchased at an average cost of $2.39 per share, for a total transaction of $478,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired a total of 939,398 shares of company stock worth $2,304,970 over the last 90 days. Insiders own 5.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu KCG Holdings LLC raised its holdings 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 purchased a new position in shares of Approach Resources in the second quarter worth $154,000. Kornitzer Capital Management Inc. KS raised its holdings 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 purchased a new position in shares of Approach Resources in the second quarter worth $157,000. Finally, Parametric Portfolio Associates LLC raised its holdings 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. Hedge funds and other institutional investors own 24.67% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece was published by Watch List News and is owned by of Watch List News. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://www.watchlistnews.com/approach-resources-inc-expected-to-post-q1-2019-earnings-of-0-00-per-share-arex/1766709.html.
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.
Receive News & Ratings for Approach Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Approach Resources and related companies with MarketBeat.com's FREE daily email newsletter.