Insider Buying: Approach Resources Inc. (AREX) Insider Acquires 350,000 Shares of Stock

Approach Resources Inc. (NASDAQ:AREX) insider Wilks Brothers, Llc bought 350,000 shares of Approach Resources stock in a transaction on Wednesday, December 27th. The shares were acquired at an average cost of $2.86 per share, for a total transaction of $1,001,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Wednesday, December 20th, Wilks Brothers, Llc bought 600,000 shares of Approach Resources stock. The shares were acquired at an average cost 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 shares were acquired at an average cost 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 shares were acquired at an average cost 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 shares were acquired at an average cost of $2.53 per share, for a total transaction of $126,500.00.
  • On Wednesday, December 6th, Wilks Brothers, Llc bought 29,285 shares of Approach Resources stock. The shares were acquired at an average cost of $2.39 per share, for a total transaction of $69,991.15.
  • On Monday, December 4th, Wilks Brothers, Llc bought 200,000 shares of Approach Resources stock. The shares were acquired at an average cost of $2.39 per share, for a total transaction of $478,000.00.
  • On Wednesday, December 13th, Wilks Brothers, Llc bought 660,113 shares of Approach Resources stock. The shares were acquired at an average cost of $2.47 per share, for a total transaction of $1,630,479.11.

Approach Resources Inc. (NASDAQ:AREX) traded down $0.02 during trading hours on Thursday, hitting $3.04. 608,453 shares of the stock were exchanged, compared to its average volume of 758,502. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.41 and a current ratio of 0.41. Approach Resources Inc. has a 12 month low of $1.93 and a 12 month high of $3.69. The company has a market cap of $265.17, a price-to-earnings ratio of -1.21 and a beta of 2.67.

Approach Resources (NASDAQ:AREX) last posted its quarterly earnings data on Wednesday, November 1st. The energy company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.01. Approach Resources had a negative net margin of 165.95% and a negative return on equity of 6.39%. The company had revenue of $25.61 million for the quarter, compared to analyst estimates of $25.74 million. equities analysts expect that Approach Resources Inc. will post -0.36 EPS for the current year.

A number of equities research analysts have weighed in on AREX shares. Zacks Investment Research raised shares of Approach Resources from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a report on Tuesday, November 7th. ValuEngine lowered shares of Approach Resources from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Scotiabank reaffirmed a “hold” rating and issued a $3.00 price objective on shares of Approach Resources in a research note on Wednesday, November 22nd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Approach Resources in a research note on Monday, November 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Approach Resources presently has an average rating of “Hold” and an average target price of $2.88.

Several large investors have recently bought and sold shares of AREX. Virtu KCG Holdings LLC boosted its stake in Approach Resources by 182.8% during the second quarter. Virtu KCG Holdings LLC now owns 32,033 shares of the energy company’s stock worth $108,000 after acquiring an additional 20,705 shares in the last quarter. New York State Common Retirement Fund bought a new position in Approach Resources during the second quarter worth $154,000. Kornitzer Capital Management Inc. KS boosted its stake in Approach Resources by 68.1% during the third quarter. Kornitzer Capital Management Inc. KS now owns 61,700 shares of the energy company’s stock worth $155,000 after acquiring an additional 25,000 shares in the last quarter. Rhumbline Advisers bought a new position in Approach Resources during the second quarter worth $157,000. Finally, Parametric Portfolio Associates LLC boosted its stake in Approach Resources by 14.6% during the second quarter. Parametric Portfolio Associates LLC now owns 53,322 shares of the energy company’s stock worth $180,000 after acquiring an additional 6,781 shares in the last quarter. 24.63% of the stock is currently owned by institutional investors.

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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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