Equities analysts predict that Approach Resources Inc. (NASDAQ:AREX) will report ($0.07) earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Approach Resources’ earnings, with the lowest EPS estimate coming in at ($0.10) and the highest estimate coming in at ($0.04). Approach Resources reported earnings per share of ($0.27) during the same quarter last year, which suggests a positive year-over-year growth rate of 74.1%. The business is scheduled to announce its next earnings results on Thursday, March 8th.

On average, analysts expect that Approach Resources will report full-year earnings of ($0.37) per share for the current fiscal year, with EPS estimates ranging from ($0.41) to ($0.33). For the next year, analysts forecast that the firm will report earnings of ($0.26) per share, with EPS estimates ranging from ($0.41) to ($0.03). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover Approach Resources.

Approach Resources (NASDAQ:AREX) last announced its quarterly earnings data on Wednesday, November 1st. The energy company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Approach Resources had a negative net margin of 33.24% and a negative return on equity of 6.24%. The company had revenue of $25.61 million during the quarter, compared to analyst estimates of $25.74 million.

A number of equities research analysts recently weighed in on AREX shares. Zacks Investment Research upgraded shares of Approach Resources from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a report on Tuesday, November 7th. ValuEngine lowered shares of Approach Resources from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Scotiabank restated a “hold” rating and issued a $3.00 price target on shares of Approach Resources in a report on Wednesday, November 22nd. KeyCorp restated a “hold” rating on shares of Approach Resources in a report on Monday, November 13th. Finally, Robert W. Baird restated a “hold” rating and issued a $4.00 price target on shares of Approach Resources in a report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $2.79.

Shares of Approach Resources (NASDAQ AREX) traded up $0.03 on Wednesday, reaching $2.73. 1,203,500 shares of the company were exchanged, compared to its average volume of 756,292. Approach Resources has a one year low of $1.93 and a one year high of $3.84. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.41 and a quick ratio of 0.41.

In other Approach Resources news, major shareholder Wilks Brothers, Llc purchased 200,000 shares of Approach Resources stock in a transaction dated Monday, December 4th. The stock was acquired at an average price of $2.39 per share, for a total transaction of $478,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders bought 1,689,398 shares of company stock valued at $4,243,470. Company insiders own 5.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its stake in shares of Approach Resources by 2.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 105,432 shares of the energy company’s stock worth $355,000 after acquiring an additional 2,703 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Approach Resources by 14.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 53,322 shares of the energy company’s stock worth $180,000 after acquiring an additional 6,781 shares in the last quarter. Virtu KCG Holdings LLC raised its stake in shares of Approach Resources by 182.8% during the 2nd quarter. Virtu KCG Holdings LLC now owns 32,033 shares of the energy company’s stock worth $108,000 after acquiring an additional 20,705 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of Approach Resources by 68.1% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 61,700 shares of the energy company’s stock worth $155,000 after acquiring an additional 25,000 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Approach Resources by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 1,274,300 shares of the energy company’s stock worth $4,294,000 after acquiring an additional 27,600 shares in the last quarter. Hedge funds and other institutional investors own 24.63% of the company’s stock.

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

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