Approach Resources (AREX) Releases Earnings Results, Beats Expectations By $0.06 EPS

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.

An institutional investor recently raised its position in Approach Resources stock. Bank of New York Mellon Corp increased its holdings in shares of Approach Resources Inc. (NASDAQ:AREX) by 49.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 265,861 shares of the energy company’s stock after acquiring an additional 88,295 shares during the quarter. Bank of New York Mellon Corp owned about 0.28% of Approach Resources worth $649,000 at the end of the most recent reporting period. 75.39% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “Approach Resources (AREX) Releases Earnings Results, Beats Expectations By $0.06 EPS” was first reported by WKRB News and is the property of of WKRB News. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at

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.

Recommended Story: Relative Strength Index

Earnings History for Approach Resources (NASDAQ:AREX)

Receive News & Ratings for Approach Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Approach Resources and related companies with's FREE daily email newsletter.

Leave a Reply