Approach Resources Inc. (AREX) Insider Wilks Brothers, Llc Acquires 300,000 Shares

Approach Resources Inc. (NASDAQ:AREX) insider Wilks Brothers, Llc purchased 300,000 shares of the business’s stock in a transaction on Friday, June 16th. The stock was acquired at an average cost of $2.79 per share, with a total value of $837,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Wilks Brothers, Llc also recently made the following trade(s):

  • On Tuesday, June 13th, Wilks Brothers, Llc purchased 350,000 shares of Approach Resources stock. The stock was acquired at an average cost of $2.77 per share, with a total value of $969,500.00.
  • On Thursday, June 8th, Wilks Brothers, Llc purchased 300,000 shares of Approach Resources stock. The stock was acquired at an average cost of $2.70 per share, with a total value of $810,000.00.
  • On Friday, June 2nd, Wilks Brothers, Llc purchased 200,000 shares of Approach Resources stock. The stock was acquired at an average cost of $2.61 per share, with a total value of $522,000.00.
  • On Tuesday, May 30th, Wilks Brothers, Llc purchased 100,000 shares of Approach Resources stock. The stock was acquired at an average cost of $2.70 per share, with a total value of $270,000.00.
  • On Thursday, May 25th, Wilks Brothers, Llc purchased 375,000 shares of Approach Resources stock. The stock was acquired at an average cost of $2.79 per share, with a total value of $1,046,250.00.
  • On Friday, May 19th, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. The stock was acquired at an average cost of $2.89 per share, with a total value of $433,500.00.
  • On Tuesday, May 16th, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. The stock was acquired at an average cost of $3.03 per share, with a total value of $454,500.00.
  • On Monday, May 15th, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. The stock was acquired at an average cost of $2.97 per share, with a total value of $445,500.00.
  • On Wednesday, May 10th, Wilks Brothers, Llc purchased 200,000 shares of Approach Resources stock. The stock was acquired at an average cost of $2.81 per share, with a total value of $562,000.00.

Shares of Approach Resources Inc. (NASDAQ:AREX) traded down 1.09% during trading on Friday, hitting $2.71. The stock had a trading volume of 789,627 shares. The company’s market capitalization is $190.81 million. The firm has a 50 day moving average of $2.66 and a 200 day moving average of $2.88. Approach Resources Inc. has a 1-year low of $1.35 and a 1-year high of $4.35.

Approach Resources (NASDAQ:AREX) last released its quarterly earnings data on Thursday, May 4th. The energy company reported ($0.11) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.11). Approach Resources had a negative return on equity of 6.87% and a negative net margin of 181.09%. The business had revenue of $26.40 million for the quarter, compared to analysts’ expectations of $25.96 million. During the same quarter in the previous year, the business posted ($0.32) EPS. Approach Resources’s revenue for the quarter was up 50.0% on a year-over-year basis. Analysts expect that Approach Resources Inc. will post ($0.32) EPS for the current fiscal year.

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

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Several institutional investors have recently added to or reduced their stakes in the stock. Spark Investment Management LLC boosted its position in Approach Resources by 73.7% in the first quarter. Spark Investment Management LLC now owns 570,900 shares of the energy company’s stock valued at $1,432,000 after buying an additional 242,300 shares during the period. Schroder Investment Management Group acquired a new position in Approach Resources during the first quarter valued at $174,000. KBC Group NV boosted its position in Approach Resources by 78.8% in the first quarter. KBC Group NV now owns 250,048 shares of the energy company’s stock valued at $628,000 after buying an additional 110,170 shares during the period. Airain ltd acquired a new position in Approach Resources during the first quarter valued at $166,000. Finally, Eagle Global Advisors LLC boosted its position in Approach Resources by 18.9% in the first quarter. Eagle Global Advisors LLC now owns 77,638 shares of the energy company’s stock valued at $195,000 after buying an additional 12,350 shares during the period. Institutional investors and hedge funds own 25.32% of the company’s stock.

AREX has been the subject of a number of analyst reports. Scotiabank set a $3.00 price objective on shares of Approach Resources and gave the company a “hold” rating in a research note on Saturday, May 6th. ValuEngine lowered shares of Approach Resources from a “hold” rating to a “sell” rating in a research note on Thursday, June 1st. Zacks Investment Research lowered shares of Approach Resources from a “buy” rating to a “hold” rating in a research note on Thursday, February 16th. Seaport Global Securities reaffirmed a “neutral” rating and set a $3.50 price objective on shares of Approach Resources in a research note on Thursday, February 16th. Finally, KLR Group reaffirmed a “buy” rating and set a $4.00 price objective (down from $4.25) on shares of Approach Resources in a research note on Tuesday, March 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Approach Resources currently has a consensus rating of “Hold” and an average price target of $3.85.

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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