Somewhat Favorable News Coverage Somewhat Unlikely to Impact Approach Resources (AREX) Share Price
News coverage about Approach Resources (NASDAQ:AREX) has been trending somewhat positive on Thursday, Accern Sentiment reports. Accern ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded 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 0.09 on Accern’s scale. Accern also gave news coverage about the energy company an impact score of 45.8576537521207 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news articles that may have effected Accern Sentiment’s analysis:
- What Is Approach Resources Inc’s (AREX) Share Price Doing? (finance.yahoo.com)
- Approach Resources Inc (AREX) Shares Climb Higher For the Week – FLBC News (flbcnews.com)
- Approach Resources Inc. (AREX) Downgraded by ValuEngine (americanbankingnews.com)
- JPMorgan Chase & Co. (JPM) noted a price change of -0.46% and Approach Resources, Inc. (AREX) closes with a … – Stocks Gallery (stocksgallery.com)
Approach Resources (NASDAQ AREX) opened at 2.78 on Thursday. The company’s market capitalization is $240.03 million. Approach Resources has a 12-month low of $1.93 and a 12-month high of $4.33. The firm has a 50-day moving average of $2.70 and a 200 day moving average of $2.64.
Approach Resources (NASDAQ:AREX) last posted its quarterly earnings data on Wednesday, August 2nd. The energy company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $24.97 million during 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%. Approach Resources’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.25) EPS. Analysts expect that Approach Resources will post ($0.29) EPS for the current fiscal year.
A number of research firms recently commented on AREX. ValuEngine raised shares of Approach Resources from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Scotiabank set a $3.00 price target on shares of Approach Resources and gave the stock a “hold” rating in a research report on Saturday, July 1st. BidaskClub lowered shares of Approach Resources from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research lowered shares of Approach Resources from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Finally, Seaport Global Securities lowered shares of Approach Resources from a “neutral” rating to a “sell” rating and decreased their target price for the company from $3.00 to $0.50 in a report on Wednesday, June 21st. Four analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Approach Resources presently has an average rating of “Hold” and a consensus price target of $3.08.
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In other news, major shareholder Wilks Brothers, Llc acquired 88,000 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was acquired at an average price of $2.72 per share, for a total transaction of $239,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders acquired 1,226,000 shares of company stock valued at $3,286,900. 7.80% of the stock is owned by corporate insiders.
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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