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

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 purchased at an average cost of $3.45 per share, for a total transaction of $1,552,500.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 purchased at an average cost 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 purchased at an average cost 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 purchased at an average cost 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 purchased at an average cost 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 purchased at an average cost 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 purchased at an average cost 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 purchased 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 purchased 200,000 shares of Approach Resources stock. The shares were bought at an average price of $2.57 per share, with a total value of $514,000.00.
  • On Monday, December 18th, Wilks Brothers, Llc purchased 550,000 shares of Approach Resources stock. The shares were bought at an average price of $2.59 per share, with a total value of $1,424,500.00.
  • On Monday, December 11th, Wilks Brothers, Llc purchased 50,000 shares of Approach Resources stock. The shares were bought at an average price of $2.53 per share, with a total value of $126,500.00.

Approach Resources Inc. (NASDAQ AREX) traded down $0.22 during trading on Friday, reaching $3.18. 699,058 shares of the company were exchanged, compared to its average volume of 793,937. Approach Resources Inc. has a fifty-two week low of $1.93 and a fifty-two week high of $4.21. The stock has a market cap of $294.15, a price-to-earnings ratio of -1.26 and a beta of 2.72. 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 (NASDAQ:AREX) last released its quarterly earnings data on Wednesday, November 1st. The energy company reported ($0.08) earnings per share 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 during the quarter, compared to analyst estimates of $25.74 million. equities research analysts anticipate that Approach Resources Inc. will post -0.36 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC grew its stake in Approach Resources by 14.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 53,322 shares of the energy company’s stock valued at $180,000 after buying an additional 6,781 shares in the last quarter. Virtu KCG Holdings LLC grew its stake in Approach Resources by 182.8% in the 2nd quarter. Virtu KCG Holdings LLC now owns 32,033 shares of the energy company’s stock valued at $108,000 after buying an additional 20,705 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in Approach Resources by 68.1% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 61,700 shares of the energy company’s stock valued at $155,000 after buying an additional 25,000 shares in the last quarter. California Public Employees Retirement System grew its stake in Approach Resources by 2.2% in the 2nd quarter. California Public Employees Retirement System now owns 1,274,300 shares of the energy company’s stock valued at $4,294,000 after buying an additional 27,600 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in Approach Resources in the 2nd quarter valued at approximately $154,000. Institutional investors and hedge funds own 23.53% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Approach Resources from a “sell” rating to a “strong sell” rating in a research note on Friday. Zacks Investment Research lowered shares of Approach Resources from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. KeyCorp restated a “hold” rating on shares of Approach Resources in a research note on Thursday, October 12th. Finally, BidaskClub upgraded shares of Approach Resources from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus 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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