Approach Resources (NASDAQ:AREX) posted its earnings results on Monday. The energy company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.01), Fidelity Earnings reports. Approach Resources had a net margin of 20.85% and a negative return on equity of 4.04%. The business had revenue of $22.38 million for the quarter, compared to analysts’ expectations of $30.16 million.
Shares of NASDAQ AREX traded down $0.18 during mid-day trading on Tuesday, hitting $0.90. 1,500 shares of the stock traded hands, compared to its average volume of 120,831. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.64. Approach Resources has a 52 week low of $0.83 and a 52 week high of $3.26. The firm has a market capitalization of $102.07 million, a PE ratio of -2.53 and a beta of 2.89.
An institutional investor recently raised its position in Approach Resources stock. Geode Capital Management LLC grew its stake in Approach Resources Inc. (NASDAQ:AREX) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 531,253 shares of the energy company’s stock after acquiring an additional 32,712 shares during the quarter. Geode Capital Management LLC owned 0.56% of Approach Resources worth $463,000 at the end of the most recent quarter. 70.21% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on AREX shares. ValuEngine upgraded Approach Resources from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Zacks Investment Research lowered Approach Resources from a “buy” rating to a “hold” rating in a research report on Monday, January 28th.
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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.
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