Approach Resources (NASDAQ:AREX) issued its quarterly earnings data on Thursday. The energy company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.04), Fidelity Earnings reports. Approach Resources had a negative return on equity of 4.46% and a negative net margin of 28.00%. The business had revenue of $14.72 million during the quarter, compared to analysts’ expectations of $20.61 million.
AREX traded down $0.02 during trading on Friday, reaching $0.22. The stock had a trading volume of 354,495 shares, compared to its average volume of 341,255. The stock has a market capitalization of $21.55 million, a PE ratio of -0.87 and a beta of 3.07. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16. Approach Resources has a one year low of $0.20 and a one year high of $2.37. The firm’s 50-day moving average is $0.29.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Approach Resources from a “hold” rating to a “sell” rating in a research report on Friday. ValuEngine upgraded Approach Resources from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Sell” and a consensus price target of $1.22.
Approach Resources, Inc, an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional oil and gas reserves. The company's properties are primarily located in the Permian Basin in west Texas. It also owns interests in east Texas Basin. As of December 31, 2018, its estimated proved reserves were 180.1 million barrels of oil equivalent located in Crockett and Schleicher counties, Texas.
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