News headlines about Approach Resources (NASDAQ:AREX) have been trending somewhat positive on Wednesday, according to Accern Sentiment Analysis. Accern rates the sentiment of news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Approach Resources earned a media sentiment score of 0.11 on Accern’s scale. Accern also gave news coverage about the energy company an impact score of 45.7070133447323 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news articles that may have effected Accern’s analysis:
- Trading summary of Watch List stock – Approach Resources, Inc. (AREX) – Wall Street Morning (wallstreetmorning.com)
- Technical Research on Independent Oil & Gas Equities — Marathon Oil, Southwestern Energy, WPX Energy, and … – Markets Insider (markets.businessinsider.com)
- What Is Approach Resources Inc’s (AREX) Share Price Doing? (finance.yahoo.com)
A number of research firms recently issued reports on AREX. Scotiabank set a $3.00 target price on shares of Approach Resources and gave the company a “hold” rating in a research report on Saturday, July 1st. ValuEngine downgraded shares of Approach Resources from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Imperial Capital started coverage on shares of Approach Resources in a research report on Friday, August 18th. They issued an “in-line” rating and a $2.50 price objective for the company. BidaskClub downgraded shares of Approach Resources from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Seaport Global Securities downgraded shares of Approach Resources from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $3.00 to $0.50 in a research report on Wednesday, June 21st. Four research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $3.08.
Shares of Approach Resources (AREX) opened at 2.70 on Wednesday. Approach Resources has a 1-year low of $1.93 and a 1-year high of $4.33. The stock’s market cap is $233.12 million. The stock’s 50 day moving average is $2.66 and its 200-day moving average is $2.63.
Approach Resources (NASDAQ:AREX) last released its earnings results on Wednesday, August 2nd. The energy company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.02). Approach Resources had a negative return on equity of 6.84% and a negative net margin of 169.54%. The firm had revenue of $24.97 million during the quarter, compared to analyst estimates of $25.86 million. During the same quarter last year, the business posted ($0.25) EPS. The firm’s revenue was up 11.3% on a year-over-year basis. On average, analysts predict that Approach Resources will post ($0.29) EPS for the current fiscal year.
In related news, major shareholder Wilks Brothers, Llc acquired 88,000 shares of Approach Resources stock in a transaction that occurred on Monday, June 19th. The stock was purchased at an average price of $2.72 per share, for a total transaction of $239,360.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 876,000 shares of company stock valued at $2,317,400 in the last quarter. Company insiders own 7.80% 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.
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