Published: Sat, January 13, 2018
Business | By Tara Barton

Shares Of Approach Resources, Inc. (AREX) bought By WILKS BROTHERS, LLC

On Wednesday, January 3rd, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. $3.71's average target is -5.12% below currents $3.91 stock price. The shares were purchased at an average cost of $3.05 per share, with a total value of $457,500.00. Insider ownership increased by a total of 2.65 million shares, which suggests that AREX's key executives are feeling more optimistic about the outlook for the stock.

On Wednesday, December 20th, Wilks Brothers, Llc purchased 600,000 shares of Approach Resources stock. The short sellers will then buy the stock back at a much lower price and replace the borrowed shares, pocketing the difference. The shares were purchased at an average price of $2.57 per share, for a total transaction of $514,000.00.

On Monday, December 11th, Wilks Brothers, Llc bought 50,000 shares of Approach Resources stock. The stock was bought at an average price of $2.53 per share, with a total value of $126,500.00.

On Friday, January 5th, Wilks Brothers, Llc purchased 350,000 shares of Approach Resources stock. The shares were acquired at an average cost of $4.04 per share, with a total value of $808,000.00. Approach Res. Inc (NASDAQ:AREX)'s price sits 50.89% above from its 50-day moving average of $2.73 and 49.64% far from the stock's 200-day moving average which is $2.66. Out of the analyst recommendations 1 rate Approach Res. Inc (NASDAQ:AREX) stock a Buy, 0 rate the stock Outperform, 5 rate Hold, 2 rate Underperform and 0 recommend a Sell.

Current levels places Approach Resources, Inc. On Friday, August 7 the stock rating was maintained by Northland Capital with "Market Perform".

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Analysts are expecting average earnings estimates of $-0.07 for the current quarter based on the opinion of 6 analysts, relating to high earnings per share estimates of $-0.04 and low estimates of $-0.09, however Approach Res. Inc (NASDAQ:AREX) reported $-0.27 earnings per share for the same quarter previous year. Domino's Pizza, Inc. This company shares tumbled -5.29% from their most recent record high of $221.58 and now hold $9.66 billion in market value of equity. Approach Resources had a negative net margin of 165.95% and a negative return on equity of 6.39%.

Taking a broader look at the analyst consensus, according to 6 analysts Approach Res. Inc (NASDAQ:AREX)'s price will reach at $2.38 during 52 weeks.

Several institutional investors have recently made changes to their positions in AREX. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Approach Resources by 14.6% during the second quarter. They expect $-0.07 earnings per share, up 74.07% or $0.20 from last year's $-0.27 per share. New York State Common Retirement Fund has 45,800 shares. Kornitzer Capital Management Inc. KS lifted its holdings in Approach Resources by 68.1% during the third quarter. The company's institutional ownership is monitored at 75.9 percent. Rhumbline Advisers acquired a new position in shares of Approach Resources during the second quarter valued at approximately $157,000. Parametric Portfolio Associates LLC now owns 53,322 shares of the energy company's stock valued at $180,000 after acquiring an additional 6,781 shares during the last quarter.

AREX has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Approach Resources from a "buy" rating to a "hold" rating in a research report on Thursday. The rating was upgraded by UBS on Thursday, November 9 to "Buy". The rating was maintained by KeyBanc Capital Markets on Monday, November 13 with "Hold". Finally, Scotiabank reaffirmed a "hold" rating and issued a $3.00 target price on shares of Approach Resources in a report on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. RBC Capital Markets has "Hold" rating and $15.0 target. "(NASDAQ:AREX) Insider Wilks Brothers, Llc Purchases 350,000 Shares" was originally published by Week Herald and is the property of of Week Herald. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of USA and global trademark and copyright laws.

Additionally, according to the most recent 13F filing from Approach Resources, Inc. The Company focuses its growth efforts primarily on finding and developing natural gas reserves in known tight gas sands and shale areas. The Lifting Equipment segment designs, makes, and distributes boom trucks and crane products that are used for industrial projects and energy exploration, as well as for roads, bridges, and residential and commercial construction; and specialized rough terrain cranes and material handling products for the construction, municipality, and railroad industries, as well as truck-mounted aerial platforms and sign cranes.

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