Approach Resources (NASDAQ:AREX) issued its earnings results on Thursday. The energy company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.06, Fidelity Earnings reports. Approach Resources had a net margin of 18.38% and a negative return on equity of 4.52%. The business had revenue of $32.56 million for the quarter, compared to the consensus estimate of $30.07 million.

Shares of AREX stock traded down $0.03 during mid-day trading on Friday, reaching $1.60. The company’s stock had a trading volume of 254,508 shares, compared to its average volume of 214,147. Approach Resources has a 12-month low of $1.46 and a 12-month high of $4.21. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The company has a market cap of $154.01 million, a PE ratio of -4.44 and a beta of 2.72.

AREX has been the topic of a number of research reports. Zacks Investment Research raised shares of Approach Resources from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research note on Tuesday, September 18th. KLR Group reissued a “hold” rating and issued a $3.00 target price on shares of Approach Resources in a research note on Monday, August 20th. Six research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $2.75.

A hedge fund recently raised its stake in Approach Resources stock. Bank of New York Mellon Corp grew its holdings in Approach Resources Inc. (NASDAQ:AREX) by 49.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 265,861 shares of the energy company’s stock after acquiring an additional 88,295 shares during the period. Bank of New York Mellon Corp owned about 0.28% of Approach Resources worth $649,000 as of its most recent SEC filing. Institutional investors own 75.39% of the company’s stock.

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About Approach Resources

Approach Resources, Inc, an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional oil and gas reserves in the United States. The company's properties are primarily located in the Permian Basin in west Texas. It also owns interests in east Texas Basin.

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Earnings History for Approach Resources (NASDAQ:AREX)

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