Approach Resources Inc. (NASDAQ:AREX) Major Shareholder Wilks Brothers, Llc Acquires 200,000 Shares

Approach Resources Inc. (NASDAQ:AREX) major shareholder Wilks Brothers, Llc acquired 200,000 shares of Approach Resources stock in a transaction that occurred on Friday, January 12th. The shares were purchased at an average cost of $4.04 per share, with a total value of $808,000.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 shares were bought at an average price of $3.45 per share, with a total value of $1,552,500.00.
  • 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, with a total value 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, with a total value 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, with a total value 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, with a total value 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, with a total value 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, with a total value of $1,686,000.00.
  • On Friday, December 15th, Wilks Brothers, Llc acquired 200,000 shares of Approach Resources stock. The stock was acquired at an average price of $2.57 per share, with a total value of $514,000.00.
  • On Monday, December 18th, Wilks Brothers, Llc acquired 550,000 shares of Approach Resources stock. The stock was acquired 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 acquired 50,000 shares of Approach Resources stock. The stock was acquired at an average price of $2.53 per share, with a total value of $126,500.00.

Shares of Approach Resources Inc. (NASDAQ:AREX) opened at $3.18 on Friday. Approach Resources Inc. has a 1-year low of $1.93 and a 1-year high of $4.21. 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 posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $25.74 million. equities research analysts expect that Approach Resources Inc. will post -0.36 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of AREX. 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 buying an additional 20,705 shares during the last quarter. New York State Common Retirement Fund bought a new stake in Approach Resources during the 2nd quarter valued at $154,000. 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 buying an additional 25,000 shares during the last quarter. Rhumbline Advisers bought a new stake in Approach Resources during the 2nd quarter valued at $157,000. Finally, Parametric Portfolio Associates LLC raised its holdings in Approach Resources by 14.6% during 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 during the last quarter. Institutional investors own 23.53% of the company’s stock.

A number of brokerages have recently weighed in on AREX. ValuEngine lowered shares of Approach Resources from a “sell” rating to a “strong sell” rating in a report on Friday. Zacks Investment Research lowered shares of Approach Resources from a “buy” rating to a “hold” rating in a report on Friday, January 19th. BidaskClub upgraded shares of Approach Resources from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Scotiabank restated a “hold” rating and issued a $3.00 price objective on shares of Approach Resources in a report on Wednesday, November 22nd. Finally, KeyCorp restated a “hold” rating on shares of Approach Resources in a report on Monday, November 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently 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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