Deutsche Bank AG grew its position in Approach Resources Inc. (NASDAQ:AREX) by 145.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,569 shares of the energy company’s stock after buying an additional 58,371 shares during the quarter. Deutsche Bank AG owned 0.11% of Approach Resources worth $290,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of AREX. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Approach Resources in the fourth quarter valued at $19,907,000. BlackRock Inc. grew its stake in shares of Approach Resources by 2.0% in the fourth quarter. BlackRock Inc. now owns 3,370,162 shares of the energy company’s stock valued at $9,975,000 after buying an additional 67,260 shares in the last quarter. Finally, 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 valued at $193,000 after buying an additional 52,990 shares in the last quarter. 21.27% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut Approach Resources from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. KLR Group cut Approach Resources from a “buy” rating to a “hold” rating and set a $3.00 price objective for the company. in a research note on Monday, May 14th. ValuEngine raised Approach Resources from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, BidaskClub cut Approach Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $2.92.
Approach Resources opened at $2.75 on Friday, according to Marketbeat.com. Approach Resources Inc. has a 12 month low of $2.18 and a 12 month high of $4.21. The firm has a market cap of $259.28 million, a P/E ratio of -7.64 and a beta of 2.76. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.62.
Approach Resources (NASDAQ:AREX) last released its earnings results on Wednesday, May 2nd. The energy company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.01). Approach Resources had a negative return on equity of 5.10% and a net margin of 19.45%. The company had revenue of $28.77 million for the quarter, compared to analyst estimates of $29.15 million. research analysts forecast that Approach Resources Inc. will post -0.3 EPS for the current fiscal year.
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.
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