Approach Resources Inc. (AREX) Insider Wilks Brothers, Llc Acquires 450,000 Shares

Approach Resources Inc. (NASDAQ:AREX) insider Wilks Brothers, Llc purchased 450,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were acquired at an average price of $3.45 per share, for a total transaction of $1,552,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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, for a total transaction of $808,000.00.
  • On Wednesday, January 3rd, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The stock was purchased at an average price of $3.20 per share, for a total transaction of $480,000.00.
  • On Friday, January 5th, Wilks Brothers, Llc bought 350,000 shares of Approach Resources stock. The stock was purchased at an average price of $3.18 per share, for a total transaction of $1,113,000.00.
  • On Friday, December 28th, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The stock was purchased at an average price of $3.09 per share, for a total transaction of $463,500.00.
  • On Wednesday, December 26th, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The stock was purchased at an average price of $3.05 per share, for a total transaction of $457,500.00.
  • On Wednesday, December 27th, Wilks Brothers, Llc bought 350,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.86 per share, for a total transaction of $1,001,000.00.
  • On Wednesday, December 20th, Wilks Brothers, Llc bought 600,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.81 per share, for a total transaction of $1,686,000.00.
  • On Friday, December 15th, Wilks Brothers, Llc bought 200,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.57 per share, for a total transaction of $514,000.00.
  • On Monday, December 18th, Wilks Brothers, Llc bought 550,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.59 per share, for a total transaction of $1,424,500.00.
  • On Monday, December 11th, Wilks Brothers, Llc bought 50,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.53 per share, for a total transaction of $126,500.00.

Shares of Approach Resources Inc. (AREX) opened at $3.91 on Friday. Approach Resources Inc. has a 52 week low of $1.93 and a 52 week high of $4.21. 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 quarterly earnings results on Wednesday, November 1st. The energy company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $25.61 million for the quarter, compared to the consensus estimate of $25.74 million. Approach Resources had a negative net margin of 165.95% and a negative return on equity of 6.39%. equities research analysts expect that Approach Resources Inc. will post -0.36 EPS for the current year.

Several equities analysts have weighed in on AREX shares. KeyCorp reiterated a “hold” rating on shares of Approach Resources in a report on Monday, November 13th. Robert W. Baird reiterated a “hold” rating and issued a $4.00 target price on shares of Approach Resources in a report on Tuesday, September 26th. ValuEngine lowered shares of Approach Resources from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of Approach Resources from a “strong sell” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Scotiabank reiterated a “hold” rating and issued a $3.00 target price on shares of Approach Resources in a report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Approach Resources currently has an average rating of “Hold” and a consensus price target of $3.08.

Institutional investors have recently added to or reduced their stakes in the company. Virtu KCG Holdings LLC raised its stake 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 during the period. New York State Common Retirement Fund purchased a new stake in shares of Approach Resources in the 2nd quarter valued at approximately $154,000. Kornitzer Capital Management Inc. KS raised its stake 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 during the period. Rhumbline Advisers purchased a new stake in shares of Approach Resources in the 2nd quarter valued at approximately $157,000. Finally, Parametric Portfolio Associates LLC raised its stake 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 acquiring an additional 6,781 shares during the period. 24.63% of the stock is currently 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.

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

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