Wilks Brothers, Llc Purchases 200,000 Shares of Approach Resources Inc. (AREX) Stock

Approach Resources Inc. (NASDAQ:AREX) major shareholder Wilks Brothers, Llc bought 200,000 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was acquired at an average price of $4.04 per share, for a total transaction of $808,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Wednesday, January 10th, Wilks Brothers, Llc bought 450,000 shares of Approach Resources stock. The stock was acquired at an average price of $3.45 per share, for a total transaction of $1,552,500.00.
  • On Wednesday, January 3rd, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The stock was acquired at an average price of $3.20 per share, for a total transaction of $480,000.00.
  • On Friday, January 5th, Wilks Brothers, Llc bought 350,000 shares of Approach Resources stock. The stock was acquired at an average price of $3.18 per share, for a total transaction of $1,113,000.00.
  • On Friday, December 28th, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The stock was acquired at an average price of $3.09 per share, for a total transaction of $463,500.00.
  • On Wednesday, December 26th, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The stock was acquired at an average price of $3.05 per share, for a total transaction of $457,500.00.
  • On Wednesday, December 27th, Wilks Brothers, Llc acquired 350,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.86 per share, for a total transaction of $1,001,000.00.
  • On Wednesday, December 20th, Wilks Brothers, Llc acquired 600,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.81 per share, for a total transaction of $1,686,000.00.
  • On Friday, December 15th, Wilks Brothers, Llc acquired 200,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.57 per share, for a total transaction of $514,000.00.
  • On Monday, December 18th, Wilks Brothers, Llc acquired 550,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.59 per share, for a total transaction of $1,424,500.00.
  • On Monday, December 11th, Wilks Brothers, Llc acquired 50,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.53 per share, for a total transaction of $126,500.00.

Shares of Approach Resources Inc. (NASDAQ AREX) traded down $0.02 during mid-day trading on Friday, reaching $3.91. 1,850,000 shares of the company’s stock were exchanged, compared to its average volume of 727,794. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.41 and a quick ratio of 0.41. Approach Resources Inc. has a 1-year low of $1.93 and a 1-year high of $4.21. The company has a market cap of $338.27, a PE ratio of -1.55 and a beta of 2.67.

Approach Resources (NASDAQ:AREX) last issued its earnings results on Wednesday, November 1st. The energy company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $25.61 million for the quarter, compared to analysts’ expectations of $25.74 million. analysts forecast that Approach Resources Inc. will post -0.36 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Kornitzer Capital Management Inc. KS raised its holdings in Approach Resources by 68.1% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 61,700 shares of the energy company’s stock valued at $155,000 after acquiring an additional 25,000 shares during the period. California State Teachers Retirement System bought a new stake in Approach Resources during the 2nd quarter valued at $257,000. State Street Corp raised its holdings in Approach Resources by 2,151.6% during the 2nd quarter. State Street Corp now owns 491,375 shares of the energy company’s stock valued at $1,657,000 after acquiring an additional 469,552 shares during the period. Balyasny Asset Management LLC bought a new stake in Approach Resources during the 2nd quarter valued at $910,000. Finally, Virtu KCG Holdings LLC raised its holdings in Approach Resources by 182.8% during the 2nd quarter. Virtu KCG Holdings LLC now owns 32,033 shares of the energy company’s stock valued at $108,000 after acquiring an additional 20,705 shares during the period. 24.63% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on AREX. BidaskClub upgraded Approach Resources from a “hold” rating to a “buy” rating in a research note on Thursday. Robert W. Baird reiterated a “hold” rating and issued a $4.00 price objective on shares of Approach Resources in a research note on Tuesday, September 26th. Zacks Investment Research downgraded Approach Resources from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine downgraded Approach Resources from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Finally, KeyCorp reiterated a “hold” rating on shares of Approach Resources in a research note on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $3.08.

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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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