Approach Resources (NASDAQ:AREX) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Approach Resources from a “buy” rating to a “hold” rating in a report on Thursday. KeyCorp reiterated a “hold” rating on shares of Approach Resources in a report on Monday, November 13th. ValuEngine cut Approach Resources from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Scotiabank reiterated a “hold” rating and set a $3.00 target price on shares of Approach Resources in a report on Wednesday, November 22nd. Finally, Robert W. Baird reiterated a “hold” rating and set a $4.00 target price on shares of Approach Resources in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $2.88.

Approach Resources (NASDAQ AREX) traded up $0.39 on Thursday, hitting $3.93. 1,937,356 shares of the company were exchanged, compared to its average volume of 667,198. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.41 and a current ratio of 0.41. Approach Resources has a 1-year low of $1.93 and a 1-year high of $4.01. The company has a market cap of $340.00, a PE ratio of -1.56 and a beta of 2.67.

Approach Resources (NASDAQ:AREX) last released its quarterly earnings data on Wednesday, November 1st. The energy company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.01. The business had revenue of $25.61 million during the quarter, compared to analysts’ expectations of $25.74 million. Approach Resources had a negative net margin of 165.95% and a negative return on equity of 6.39%. research analysts predict that Approach Resources will post -0.36 earnings per share for the current year.

In other news, insider Wilks Brothers, Llc bought 450,000 shares of the stock in a transaction on Wednesday, January 10th. The stock was purchased at an average price of $3.45 per share, for a total transaction of $1,552,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders have acquired 3,889,398 shares of company stock valued at $10,996,970. Corporate insiders own 5.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AREX. Schwab Charles Investment Management Inc. bought a new position in shares of Approach Resources in the 2nd quarter valued at about $252,000. Rhumbline Advisers bought a new position in shares of Approach Resources in the 2nd quarter valued at about $157,000. Bank of New York Mellon Corp grew its holdings in shares of Approach Resources by 412.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 195,714 shares of the energy company’s stock valued at $660,000 after acquiring an additional 157,534 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Approach Resources in the 2nd quarter valued at about $446,000. Finally, Teachers Advisors LLC bought a new position in shares of Approach Resources in the 2nd quarter valued at about $562,000. Institutional investors own 24.63% of the company’s stock.

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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.

Analyst Recommendations for Approach Resources (NASDAQ:AREX)

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