News coverage about Approach Resources (NASDAQ:AREX) has trended somewhat positive on Tuesday, Accern Sentiment reports. The research group ranks the sentiment of press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Approach Resources earned a daily sentiment score of 0.11 on Accern’s scale. Accern also gave media headlines about the energy company an impact score of 45.7655590977454 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern Sentiment’s scoring:
- Brokerages Anticipate Approach Resources Inc. (AREX) to Announce -$0.10 Earnings Per Share (americanbankingnews.com)
- 30-Day Trading Ranges for JONE, HES, SN, DNR, and AREX (finance.yahoo.com)
- 5 Sell-Ranked Energy Stocks with Declining Estimates to Avoid (finance.yahoo.com)
- Trading summary of Watch List stock – Approach Resources, Inc. (AREX) – Wall Street Morning (wallstreetmorning.com)
Shares of Approach Resources (NASDAQ AREX) opened at 2.61 on Tuesday. Approach Resources has a one year low of $1.93 and a one year high of $4.33. The company’s market capitalization is $225.35 million. The company has a 50-day moving average price of $2.62 and a 200 day moving average price of $2.63.
Approach Resources (NASDAQ:AREX) last announced its quarterly earnings results on Wednesday, August 2nd. The energy company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). The company had revenue of $24.97 million during the quarter, compared to analysts’ expectations of $25.86 million. Approach Resources had a negative return on equity of 6.84% and a negative net margin of 169.54%. Approach Resources’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the firm earned ($0.25) earnings per share. Equities analysts anticipate that Approach Resources will post ($0.29) EPS for the current year.
Several analysts have recently weighed in on AREX shares. Zacks Investment Research upgraded Approach Resources from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. ValuEngine cut Approach Resources from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Imperial Capital started coverage on Approach Resources in a report on Friday, August 18th. They set an “in-line” rating and a $2.50 price target on the stock. BidaskClub cut Approach Resources from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Seaport Global Securities cut Approach Resources from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $3.00 to $0.50 in a report on Wednesday, June 21st. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Approach Resources has a consensus rating of “Hold” and an average price target of $3.08.
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In related news, insider Wilks Brothers, Llc purchased 288,000 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were acquired at an average cost of $2.58 per share, with a total value of $743,040.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.80% of the stock is owned by insiders.
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.
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