Wilks Brothers, Llc Buys 450,000 Shares of Approach Resources Inc. (AREX) Stock

Approach Resources Inc. (NASDAQ:AREX) insider Wilks Brothers, Llc bought 450,000 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were bought at an average price of $3.45 per share, for a total transaction of $1,552,500.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

  • On Friday, January 12th, Wilks Brothers, Llc bought 200,000 shares of Approach Resources stock. The shares were bought at an average price of $4.04 per share, for a total transaction of $808,000.00.
  • On Wednesday, January 3rd, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The shares were bought 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 shares were bought 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 shares were bought 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 shares were bought at an average price of $3.05 per share, for a total transaction of $457,500.00.
  • On Wednesday, December 27th, Wilks Brothers, Llc bought 350,000 shares of Approach Resources stock. The shares were bought 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 bought 600,000 shares of Approach Resources stock. The shares were bought 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 bought 200,000 shares of Approach Resources stock. The shares were bought at an average price 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 bought 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 bought 50,000 shares of Approach Resources stock. The shares were bought at an average price of $2.53 per share, for a total transaction of $126,500.00.

Shares of Approach Resources Inc. (NASDAQ AREX) opened at $3.91 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.69. Approach Resources Inc. has a 12-month low of $1.93 and a 12-month high of $4.21.

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

Several hedge funds have recently modified their holdings of the stock. Kornitzer Capital Management Inc. KS raised its position in shares of Approach Resources by 68.1% in the third quarter. Kornitzer Capital Management Inc. KS now owns 61,700 shares of the energy company’s stock worth $155,000 after buying an additional 25,000 shares in the last quarter. California State Teachers Retirement System purchased a new stake in shares of Approach Resources in the second quarter worth $257,000. State Street Corp raised its position in shares of Approach Resources by 2,151.6% in the second quarter. State Street Corp now owns 491,375 shares of the energy company’s stock worth $1,657,000 after buying an additional 469,552 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of Approach Resources in the second quarter worth $910,000. Finally, Virtu KCG Holdings LLC raised its position in shares of Approach Resources by 182.8% in the second quarter. Virtu KCG Holdings LLC now owns 32,033 shares of the energy company’s stock worth $108,000 after buying an additional 20,705 shares in the last quarter. Institutional investors own 24.63% of the company’s stock.

Several research firms have issued reports on AREX. Zacks Investment Research downgraded Approach Resources from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub upgraded Approach Resources from a “hold” rating to a “buy” rating in a research report on Thursday. KeyCorp restated a “hold” rating on shares of Approach Resources in a research report on Monday, November 13th. ValuEngine downgraded Approach Resources from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Finally, Scotiabank restated a “hold” rating and set a $3.00 target price on shares of Approach Resources in a research report on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company presently 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.

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