Approach Resources (NASDAQ:AREX) released its earnings results on Thursday. The energy company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06, Fidelity Earnings reports. The business had revenue of $32.56 million during the quarter, compared to analysts’ expectations of $30.07 million. Approach Resources had a net margin of 18.38% and a negative return on equity of 4.52%.
AREX traded down $0.03 on Friday, reaching $1.60. 254,508 shares of the company’s stock were exchanged, compared to its average volume of 214,147. The firm has a market capitalization of $154.01 million, a PE ratio of -4.44 and a beta of 2.72. Approach Resources has a twelve month low of $1.46 and a twelve 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.
A number of research firms have recently commented on AREX. Zacks Investment Research cut shares of Approach Resources from a “buy” rating to a “hold” rating in a research note on Friday, July 20th. KLR Group reissued a “hold” rating and set a $3.00 target price on shares of Approach Resources in a research note on Monday, August 20th. Six investment analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of $2.75.
Approach Resources Company Profile
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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