Q1 2018 Earnings Forecast for Approach Resources Inc. Issued By Imperial Capital (AREX)
Approach Resources Inc. (NASDAQ:AREX) – Research analysts at Imperial Capital upped their Q1 2018 earnings estimates for shares of Approach Resources in a research report issued on Monday. Imperial Capital analyst I. Haas now anticipates that the energy company will post earnings of ($0.06) per share for the quarter, up from their prior estimate of ($0.08). Imperial Capital also issued estimates for Approach Resources’ Q2 2018 earnings at ($0.06) EPS, Q3 2018 earnings at ($0.06) EPS, Q4 2018 earnings at ($0.06) EPS and FY2018 earnings at ($0.24) EPS.
Approach Resources (NASDAQ:AREX) last released its earnings results on Thursday, March 8th. The energy company reported ($0.07) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.07). Approach Resources had a negative return on equity of 5.33% and a negative net margin of 106.65%. The firm had revenue of $28.40 million during the quarter, compared to analysts’ expectations of $28.08 million. During the same period in the previous year, the firm posted ($0.27) EPS. Approach Resources’s revenue for the quarter was up 7.2% on a year-over-year basis.
Approach Resources (NASDAQ:AREX) opened at $2.58 on Wednesday. Approach Resources has a one year low of $1.95 and a one year high of $4.21. The company has a quick ratio of 0.41, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.
In other Approach Resources news, major shareholder Wilks Brothers, Llc acquired 200,000 shares of the stock in a transaction dated Friday, December 15th. The stock was acquired at an average cost of $2.57 per share, with a total value of $514,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 3,150,000 shares of company stock valued at $9,500,000. Insiders own 5.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AREX. TIAA CREF Investment Management LLC acquired a new position in shares of Approach Resources during the 2nd quarter worth about $699,000. New York State Common Retirement Fund purchased a new stake in shares of Approach Resources in the 2nd quarter valued at about $154,000. Northern Trust Corp lifted its holdings in shares of Approach Resources by 264.2% in the 2nd quarter. Northern Trust Corp now owns 557,713 shares of the energy company’s stock valued at $1,879,000 after purchasing an additional 404,580 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Approach Resources by 21.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,959,374 shares of the energy company’s stock valued at $6,603,000 after purchasing an additional 347,986 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Approach Resources by 14.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 53,322 shares of the energy company’s stock valued at $180,000 after purchasing an additional 6,781 shares during the last quarter. 31.30% of the stock is owned by institutional investors and hedge funds.
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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.
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