Approach Resources Inc. (NASDAQ:AREX) – Equities research analysts at KeyCorp issued their FY2018 earnings estimates for Approach Resources in a research report issued to clients and investors on Tuesday. KeyCorp analyst D. Deckelbaum anticipates that the brokerage will earn ($0.11) per share for the year.

Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Approach Resources from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. SunTrust Banks Inc. upgraded Approach Resources from a “reduce” rating to a “hold” rating in a report on Wednesday, October 26th. Finally, Wunderlich upgraded Approach Resources from a “hold” rating to a “buy” rating and raised their target price for the company from $4.00 to $5.50 in a report on Wednesday, October 26th.

Earnings History and Estimates for Approach Resources (NASDAQ:AREX)

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Approach Resources (NASDAQ:AREX) traded down 3.32% during mid-day trading on Thursday, reaching $3.20. The company had a trading volume of 367,252 shares. The company’s market capitalization is $133.15 million. The stock has a 50-day moving average of $3.03 and a 200 day moving average of $2.66. Approach Resources has a 12-month low of $0.60 and a 12-month high of $4.35.

WARNING: This article was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another publication, it was stolen and republished in violation of United States and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2016/11/26/keycorp-weighs-in-on-approach-resources-inc-s-fy2018-earnings-arex.html.

Several hedge funds have recently modified their holdings of AREX. Hancock Holding Co. acquired a new stake in shares of Approach Resources during the third quarter worth approximately $121,000. BlackRock Institutional Trust Company N.A. increased its stake in shares of Approach Resources by 22.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 918,003 shares of the energy company’s stock worth $3,103,000 after buying an additional 167,778 shares during the last quarter. BlackRock Group LTD acquired a new stake in shares of Approach Resources during the third quarter worth approximately $143,000. Lubar & Co. Inc increased its stake in shares of Approach Resources by 2.6% in the third quarter. Lubar & Co. Inc now owns 1,038,424 shares of the energy company’s stock worth $3,510,000 after buying an additional 26,086 shares during the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Approach Resources during the third quarter worth approximately $279,000. 48.29% of the stock is owned by institutional investors.

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.

5 Day Chart for NASDAQ:AREX

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