Wilks Brothers, Llc Buys 150,000 Shares of Approach Resources Inc. (AREX) Stock

Approach Resources Inc. (NASDAQ:AREX) major shareholder Wilks Brothers, Llc purchased 150,000 shares of the company’s stock in a transaction on Wednesday, December 26th. The stock was purchased at an average price of $3.05 per share, for a total transaction of $457,500.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Wilks Brothers, Llc also recently made the following trade(s):

  • On Wednesday, December 27th, Wilks Brothers, Llc purchased 350,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.86 per share, for a total transaction of $1,001,000.00.
  • On Wednesday, December 20th, Wilks Brothers, Llc purchased 600,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.81 per share, for a total transaction of $1,686,000.00.
  • On Friday, December 15th, Wilks Brothers, Llc purchased 200,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.57 per share, for a total transaction of $514,000.00.
  • On Monday, December 18th, Wilks Brothers, Llc purchased 550,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.59 per share, for a total transaction of $1,424,500.00.
  • On Monday, December 11th, Wilks Brothers, Llc purchased 50,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.53 per share, for a total transaction of $126,500.00.
  • On Wednesday, December 6th, Wilks Brothers, Llc purchased 29,285 shares of Approach Resources stock. The stock was purchased at an average price of $2.39 per share, for a total transaction of $69,991.15.
  • On Monday, December 4th, Wilks Brothers, Llc purchased 200,000 shares of Approach Resources stock. The stock was purchased at an average price of $2.39 per share, for a total transaction of $478,000.00.
  • On Wednesday, December 13th, Wilks Brothers, Llc purchased 660,113 shares of Approach Resources stock. The stock was purchased at an average price of $2.47 per share, for a total transaction of $1,630,479.11.

Approach Resources Inc. (NASDAQ:AREX) opened at $3.14 on Wednesday. Approach Resources Inc. has a 12 month low of $1.93 and a 12 month high of $3.69. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.69. The company has a market cap of $256.08, a P/E ratio of -1.25 and a beta of 2.67.

Approach Resources (NASDAQ:AREX) last posted its quarterly earnings data 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 business had revenue of $25.61 million for the quarter, compared to analyst estimates of $25.74 million. research analysts expect that Approach Resources Inc. will post -0.36 EPS for the current fiscal year.

A number of research analysts recently commented on AREX shares. Zacks Investment Research lowered shares of Approach Resources from a “hold” rating to a “sell” rating in a research note on Monday, October 9th. KeyCorp reiterated a “hold” rating on shares of Approach Resources in a research note on Thursday, October 12th. Scotiabank reiterated a “hold” rating and set a $3.00 price objective on shares of Approach Resources in a research note on Wednesday, November 22nd. ValuEngine lowered shares of Approach Resources from a “sell” rating to a “strong sell” rating in a research note on Sunday. Finally, Robert W. Baird reiterated a “hold” rating and set a $4.00 price objective on shares of Approach Resources in a research note on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $2.88.

A number of institutional investors have recently bought and sold shares of AREX. State Street Corp grew its position in 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 buying an additional 469,552 shares during the last quarter. Northern Trust Corp grew its position in Approach Resources by 264.2% in the second quarter. Northern Trust Corp now owns 557,713 shares of the energy company’s stock worth $1,879,000 after buying an additional 404,580 shares during the last quarter. Vanguard Group Inc. grew its position in Approach Resources by 21.6% in the second quarter. Vanguard Group Inc. now owns 1,959,374 shares of the energy company’s stock worth $6,603,000 after buying an additional 347,986 shares during the last quarter. Balyasny Asset Management LLC acquired a new position in Approach Resources in the second quarter worth approximately $910,000. Finally, TIAA CREF Investment Management LLC acquired a new position in Approach Resources in the second quarter worth approximately $699,000. Hedge funds and other institutional investors own 24.63% of the company’s stock.

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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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