Price Action To Observe: Is Approach Resources Inc.’s Fuel For Real? The Stock Just Increased Again

Price Action To Observe: Is Approach Resources Inc.'s Fuel For Real? The Stock Just Increased Again

The stock of Approach Resources Inc. (NASDAQ:AREX) is a huge mover today! About 462,772 shares traded hands. Approach Resources Inc. (NASDAQ:AREX) has risen 49.19% since April 13, 2016 and is uptrending. It has outperformed by 45.26% the S&P500.
The move comes after 5 months positive chart setup for the $129.30 million company. It was reported on Nov, 15 by Barchart.com. We have $6.25 PT which if reached, will make NASDAQ:AREX worth $144.82M more.

Approach Resources Inc. (NASDAQ:AREX) Ratings Coverage

Out of 8 analysts covering Approach Resources (NASDAQ:AREX), 2 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 25% are positive. Approach Resources has been the topic of 18 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Wunderlich maintained the stock with “Hold” rating in Tuesday, May 24 report. Suntrust Robinson upgraded Approach Resources Inc. (NASDAQ:AREX) on Wednesday, October 26 to “Hold” rating. The stock of Approach Resources Inc. (NASDAQ:AREX) has “Buy” rating given on Wednesday, October 26 by Wunderlich. The company was maintained on Friday, August 7 by Northland Capital. Macquarie Research downgraded Approach Resources Inc. (NASDAQ:AREX) on Wednesday, September 9 to “Neutral” rating. The firm earned “Outperform” rating on Friday, August 7 by RBC Capital Markets. SunTrust upgraded Approach Resources Inc. (NASDAQ:AREX) on Wednesday, October 26 to “Hold” rating. KLR Group upgraded the stock to “Accumulate” rating in Monday, August 10 report.

According to Zacks Investment Research, “Approach Resources Inc. is an independent energy company engaged in the exploration, development, exploitation, production and acquisition of unconventional natural gas and oil properties onshore in the United States and Western Canada. The Company focuses its growth efforts primarily on finding and developing natural gas reserves in known tight gas sands and shale areas. The Company currently operates in Texas, New Mexico and Kentucky and has a non-operating interest in Western Canada.”

Insitutional Activity: The institutional sentiment decreased to 0.5 in Q2 2016. Its down 0.04, from 0.54 in 2016Q1. The ratio turned negative, as 12 funds sold all Approach Resources Inc. shares owned while 34 reduced positions. 12 funds bought stakes while 11 increased positions. They now own 18.78 million shares or 24.59% less from 24.91 million shares in 2016Q1.
Royal Bancorp Of Canada holds 0% or 2,139 shares in its portfolio. Brandywine Global Mgmt Limited Liability Corp last reported 18,300 shares in the company. Schneider Cap Management has invested 1.46% of its portfolio in Approach Resources Inc. (NASDAQ:AREX). Financial Bank Of New York Mellon Corp accumulated 47,598 shares or 0% of the stock. Moreover, Invesco has 0% invested in Approach Resources Inc. (NASDAQ:AREX) for 546,862 shares. Northern Tru last reported 393,935 shares in the company. Fincl Bank Of America Corporation De, a North Carolina-based fund reported 14,222 shares. Deutsche National Bank Ag holds 0% of its portfolio in Approach Resources Inc. (NASDAQ:AREX) for 59,601 shares. The Massachusetts-based Boston Partners has invested 0% in Approach Resources Inc. (NASDAQ:AREX). Connor Clark Lunn Investment Mgmt Limited holds 0% of its portfolio in Approach Resources Inc. (NASDAQ:AREX) for 26,800 shares. Pnc Financial Gp holds 0% or 52,480 shares in its portfolio. Blackrock Fund Advsr last reported 97,108 shares in the company. Blackrock Incorporated accumulated 14,663 shares or 0% of the stock. Commonwealth Equity Serv Incorporated last reported 0% of its portfolio in the stock. Laurion Mngmt L P owns 100,000 shares or 0% of their US portfolio.

More recent Approach Resources Inc. (NASDAQ:AREX) news were published by: Seekingalpha.com which released: “Approach Resources: All In The Clear For Now” on November 13, 2016. Also Seekingalpha.com published the news titled: “Approach Resources: A Fascinating And Scary Change” on November 07, 2016. Businesswire.com‘s news article titled: “Approach Resources Inc. Announces Strategic Alliance and Deleveraging Transactions” with publication date: November 02, 2016 was also an interesting one.

AREX Company Profile

Approach Resources Inc., incorporated on October 12, 2002, is an independent energy company. The Firm is focused on the exploration, development, production and acquisition of unconventional gas and oil 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. The Company’s assets cover an area of approximately 126,000 net acres. The Company’s proved reserves are approximately 166.6 million barrels of oil equivalent (MMBoe). The Company’s proved reserves are primarily located in Crockett and Schleicher Counties, Texas. The Company’s Permian Basin acreage is known as the Project Pangea. The Firm owns and operates approximately 800 producing gas and oil wells in the Permian Basin.

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