Approach Resources (AREX) Earning Somewhat Positive News Coverage, Analysis Shows
Media stories about Approach Resources (NASDAQ:AREX) have been trending somewhat positive this week, Accern Sentiment reports. Accern scores the sentiment of press coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Approach Resources earned a media sentiment score of 0.02 on Accern’s scale. Accern also assigned news headlines about the energy company an impact score of 47.3401658650624 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Here are some of the headlines that may have effected Accern Sentiment’s rankings:
- Approach Resources Inc. (NASDAQ:AREX) Traded Significantly Below Its 50 Day Average – Modern Readers (modernreaders.com)
- ETFs with exposure to Approach Resources, Inc. : August 25, 2017 (finance.yahoo.com)
- Approach Resources Inc. (NASDAQ:AREX) Closed -11.8% Below Its 50 Day Average – Highlight Press (highlightpress.com)
- Approach Resources Inc. (NASDAQ:AREX) Closed Much Lower Than Its 50 Day Moving Average – Modern Readers (modernreaders.com)
A number of analysts have issued reports on the stock. Scotiabank set a $3.00 price target on shares of Approach Resources and gave the stock a “hold” rating in a research note on Saturday, May 6th. Imperial Capital assumed coverage on shares of Approach Resources in a research note on Friday, August 18th. They set an “in-line” rating and a $2.50 price target on the stock. ValuEngine lowered shares of Approach Resources from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. BidaskClub lowered shares of Approach Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Seaport Global Securities lowered shares of Approach Resources from a “neutral” rating to a “sell” rating and cut their price target for the stock from $3.00 to $0.50 in a research note on Wednesday, June 21st. Four analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $3.08.
Shares of Approach Resources (AREX) opened at 2.50 on Friday. The company’s 50 day moving average is $2.77 and its 200-day moving average is $2.68. Approach Resources has a 1-year low of $1.93 and a 1-year high of $4.35. The stock’s market capitalization is $215.85 million.
Approach Resources (NASDAQ:AREX) last released its quarterly earnings results on Wednesday, August 2nd. The energy company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by $0.02. The company had revenue of $24.97 million for the quarter, compared to the consensus estimate of $25.86 million. Approach Resources had a negative return on equity of 6.84% and a negative net margin of 169.54%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.25) EPS. Equities analysts anticipate that Approach Resources will post ($0.29) earnings per share for the current fiscal year.
In other Approach Resources news, insider Wilks Brothers, Llc bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average price of $2.70 per share, for a total transaction of $270,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 1,826,000 shares of company stock valued at $4,888,900. 7.80% of the stock is owned by corporate insiders.
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About Approach Resources
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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