Q1 2018 EPS Estimates for Approach Resources Inc. (AREX) Decreased by Seaport Global Securities

Approach Resources Inc. (NASDAQ:AREX) – Equities research analysts at Seaport Global Securities lowered their Q1 2018 earnings per share (EPS) estimates for shares of Approach Resources in a report released on Monday, April 23rd. Seaport Global Securities analyst M. Kelly now expects that the energy company will post earnings of ($0.07) per share for the quarter, down from their prior forecast of ($0.05). Seaport Global Securities also issued estimates for Approach Resources’ Q2 2018 earnings at ($0.07) EPS, Q3 2018 earnings at ($0.06) EPS, Q4 2018 earnings at ($0.07) EPS, FY2018 earnings at ($0.26) EPS, Q1 2019 earnings at ($0.07) EPS, Q2 2019 earnings at ($0.08) EPS, Q3 2019 earnings at ($0.08) EPS, Q4 2019 earnings at ($0.08) EPS and FY2019 earnings at ($0.31) EPS.

Other equities research analysts have also recently issued reports about the company. BidaskClub raised Approach Resources from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research raised Approach Resources from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Friday, January 12th. Finally, ValuEngine cut Approach Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $2.90.

Shares of AREX stock opened at $2.77 on Wednesday. The firm has a market capitalization of $259.42, a P/E ratio of -7.69 and a beta of 2.76. Approach Resources has a twelve month low of $1.95 and a twelve month high of $4.21. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67.

Approach Resources (NASDAQ:AREX) last issued its quarterly earnings results on Thursday, March 8th. The energy company reported ($0.07) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.07). The company had revenue of $28.40 million for the quarter, compared to analysts’ expectations of $28.08 million. Approach Resources had a negative return on equity of 5.33% and a negative net margin of 106.65%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.27) earnings per share.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AREX. Millennium Management LLC grew its stake in shares of Approach Resources by 163.3% in the fourth quarter. Millennium Management LLC now owns 56,339 shares of the energy company’s stock worth $167,000 after acquiring an additional 34,939 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Approach Resources by 437.9% in the fourth quarter. Alliancebernstein L.P. now owns 65,090 shares of the energy company’s stock worth $193,000 after acquiring an additional 52,990 shares during the last quarter. California State Teachers Retirement System purchased a new stake in shares of Approach Resources in the second quarter worth $257,000. Deutsche Bank AG grew its stake in shares of Approach Resources by 145.2% in the fourth quarter. Deutsche Bank AG now owns 98,569 shares of the energy company’s stock worth $290,000 after acquiring an additional 58,371 shares during the last quarter. Finally, State Street Corp grew its stake 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 acquiring an additional 469,552 shares during the last quarter. 29.00% of the stock is currently owned by hedge funds and other institutional investors.

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Approach Resources Company Profile

Approach Resources, Inc, an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional oil and gas reserves in the United States. The company's properties are primarily located in the Permian Basin in west Texas. It also owns interests in east Texas Basin.

Earnings History and Estimates for Approach Resources (NASDAQ:AREX)

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