News coverage about Approach Resources (NASDAQ:AREX) has trended somewhat positive on Friday, Accern Sentiment Analysis reports. The research group scores the sentiment of press coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Approach Resources earned a news impact score of 0.07 on Accern’s scale. Accern also gave headlines about the energy company an impact score of 47.1706371971881 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
These are some of the news headlines that may have effected Accern Sentiment’s scoring:
- Benzinga’s Top Upgrades, Downgrades For August 18, 2017 – Benzinga (benzinga.com)
- Imperial Initiates Coverage Of Oil & Oilfield Services Companies – Benzinga (benzinga.com)
- Approach Resources Inc. (NASDAQ:AREX) Stock Traded -18.0% Below Its 50 Day Average (highlightpress.com)
- Why Approach Resources (AREX) Could Be Positioned for a Slump – Nasdaq (nasdaq.com)
A number of research firms have recently issued reports on AREX. Zacks Investment Research upgraded Approach Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. ValuEngine downgraded Approach Resources from a “hold” rating to a “sell” rating in a research note on Thursday, June 1st. Scotiabank set a $3.00 price target on Approach Resources and gave the stock a “hold” rating in a research note on Saturday, July 1st. Seaport Global Securities downgraded Approach Resources from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $3.00 to $0.50 in a research note on Wednesday, June 21st. Finally, BidaskClub downgraded Approach Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Four equities 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’s stock. The company currently has an average rating of “Hold” and a consensus price target of $3.08.
Shares of Approach Resources (NASDAQ AREX) traded up 1.69% during trading on Friday, reaching $2.41. The company had a trading volume of 618,456 shares. The company’s 50 day moving average is $2.87 and its 200-day moving average is $2.71. The stock’s market capitalization is $208.08 million. Approach Resources has a 1-year low of $1.74 and a 1-year high of $4.35.
Approach Resources (NASDAQ:AREX) last released its quarterly earnings results on Wednesday, August 2nd. The energy company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by $0.02. Approach Resources had a negative return on equity of 6.84% and a negative net margin of 169.54%. The company had revenue of $24.97 million for the quarter, compared to analyst estimates of $25.86 million. During the same quarter last year, the company earned ($0.25) EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities research analysts anticipate that Approach Resources will post ($0.29) earnings per share for the current year.
In related news, insider Wilks Brothers, Llc purchased 100,000 shares of Approach Resources stock in a transaction that occurred on Thursday, June 22nd. The stock was purchased at an average price of $2.42 per share, for a total transaction of $242,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have purchased 2,201,000 shares of company stock valued at $5,935,150. Insiders own 7.80% of the company’s stock.
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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