Wilks Brothers, Llc Purchases 550,000 Shares of Approach Resources Inc. (NASDAQ:AREX) Stock

Approach Resources Inc. (NASDAQ:AREX) insider Wilks Brothers, Llc bought 550,000 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was purchased at an average price of $2.59 per share, with a total value of $1,424,500.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wilks Brothers, Llc also recently made the following trade(s):

  • On Friday, January 12th, Wilks Brothers, Llc bought 200,000 shares of Approach Resources stock. The stock was purchased at an average price of $4.04 per share, with a total value of $808,000.00.
  • On Wednesday, January 10th, Wilks Brothers, Llc purchased 450,000 shares of Approach Resources stock. The stock was bought at an average cost of $3.45 per share, with a total value of $1,552,500.00.
  • On Wednesday, January 3rd, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. The stock was bought at an average cost of $3.20 per share, with a total value of $480,000.00.
  • On Friday, January 5th, Wilks Brothers, Llc purchased 350,000 shares of Approach Resources stock. The stock was bought at an average cost of $3.18 per share, with a total value of $1,113,000.00.
  • On Friday, December 28th, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. The stock was bought at an average cost of $3.09 per share, with a total value of $463,500.00.
  • On Wednesday, December 26th, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. The stock was bought at an average cost of $3.05 per share, with a total value of $457,500.00.
  • On Wednesday, December 27th, Wilks Brothers, Llc purchased 350,000 shares of Approach Resources stock. The stock was bought at an average cost of $2.86 per share, with a total value of $1,001,000.00.
  • On Wednesday, December 20th, Wilks Brothers, Llc purchased 600,000 shares of Approach Resources stock. The stock was bought at an average cost of $2.81 per share, with a total value of $1,686,000.00.
  • On Friday, December 15th, Wilks Brothers, Llc purchased 200,000 shares of Approach Resources stock. The stock was bought at an average cost of $2.57 per share, with a total value of $514,000.00.
  • On Monday, December 11th, Wilks Brothers, Llc purchased 50,000 shares of Approach Resources stock. The stock was bought at an average cost of $2.53 per share, with a total value of $126,500.00.

Approach Resources Inc. (AREX) traded down $0.02 during mid-day trading on Friday, reaching $3.91. 1,850,000 shares of the company traded hands, compared to its average volume of 727,794. Approach Resources Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.21. The firm has a market capitalization of $338.27, a price-to-earnings ratio of -1.55 and a beta of 2.67. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.69.

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

AREX has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Approach Resources from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research note on Tuesday, October 31st. Robert W. Baird reaffirmed a “hold” rating and issued a $4.00 price target on shares of Approach Resources in a research note on Tuesday, September 26th. Scotiabank reissued a “hold” rating and set a $3.00 target price on shares of Approach Resources in a research note on Wednesday, November 22nd. ValuEngine lowered shares of Approach Resources from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Finally, KeyCorp reissued a “hold” rating on shares of Approach Resources in a research note on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $3.08.

Several large investors have recently modified their holdings of the stock. Kornitzer Capital Management Inc. KS lifted its position in shares of Approach Resources by 68.1% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 61,700 shares of the energy company’s stock valued at $155,000 after acquiring an additional 25,000 shares in the last quarter. California State Teachers Retirement System purchased a new stake in shares of Approach Resources in the 2nd quarter valued at approximately $257,000. State Street Corp lifted its position in shares of Approach Resources by 2,151.6% in the 2nd quarter. State Street Corp now owns 491,375 shares of the energy company’s stock valued at $1,657,000 after acquiring an additional 469,552 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of Approach Resources in the 2nd quarter valued at approximately $910,000. Finally, Virtu KCG Holdings LLC lifted its position in shares of Approach Resources by 182.8% in the 2nd quarter. Virtu KCG Holdings LLC now owns 32,033 shares of the energy company’s stock valued at $108,000 after acquiring an additional 20,705 shares in the last quarter. Institutional investors and hedge funds 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.

Insider Buying and Selling by Quarter for Approach Resources (NASDAQ:AREX)

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