Exclusive: Could Approach Resources Inc. See a Reversal After This Very Weak Session?

Exclusive: Could Approach Resources Inc. See a Reversal After This Very Weak Session?

The stock of Approach Resources Inc. (NASDAQ:AREX) is a huge mover today! The stock decreased 2.93% or $0.09 on November 16, hitting $2.98. About 732,056 shares traded hands. Approach Resources Inc. (NASDAQ:AREX) has risen 78.49% since April 14, 2016 and is uptrending. It has outperformed by 73.80% the S&P500.
The move comes after 7 months negative chart setup for the $137.92M company. It was reported on Nov, 16 by Barchart.com. We have $2.62 PT which if reached, will make NASDAQ:AREX worth $16.55 million less.

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. Suntrust Robinson upgraded Approach Resources Inc. (NASDAQ:AREX) on Wednesday, October 26 to “Hold” rating. RBC Capital Markets maintained the shares of AREX in a report on Friday, August 7 with “Outperform” rating. The stock of Approach Resources Inc. (NASDAQ:AREX) earned “Market Perform” rating by Northland Capital on Friday, August 7. The company was downgraded on Wednesday, September 9 by Macquarie Research. The company was upgraded on Monday, August 10 by KLR Group. The firm has “Buy” rating by Wunderlich given on Wednesday, October 26. The stock of Approach Resources Inc. (NASDAQ:AREX) has “Hold” rating given on Tuesday, May 24 by Wunderlich. The firm has “Hold” rating given on Wednesday, October 26 by SunTrust.

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 2016 Q2. Its down 0.04, from 0.54 in 2016Q1. The ratio dived, 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.
Art Advsrs Ltd last reported 87,916 shares in the company. Kbc Gp Nv has 40,867 shares for 0% of their US portfolio. The Wisconsin-based Lubar And Inc has invested 2.96% in Approach Resources Inc. (NASDAQ:AREX). Bank & Trust Of Mellon Corporation accumulated 0% or 47,598 shares. Deutsche Bank Ag last reported 59,601 shares in the company. Bank & Trust Of Montreal Can has invested 0% of its portfolio in Approach Resources Inc. (NASDAQ:AREX). Commonwealth Equity Inc has invested 0% of its portfolio in Approach Resources Inc. (NASDAQ:AREX). Blackrock Institutional Trust Com Na, a California-based fund reported 750,225 shares. Northern Tru owns 393,935 shares or 0% of their US portfolio. Kcg last reported 67,519 shares in the company. Invesco has 546,862 shares for 0% of their US portfolio. The British Columbia – Canada-based Connor Clark & Lunn Invest Mngmt Limited has invested 0% in Approach Resources Inc. (NASDAQ:AREX). Barclays Public Ltd Co accumulated 0% or 6,984 shares. Brandes Investment Prtnrs L P, a California-based fund reported 68,337 shares. D E Shaw has 0% invested in the company for 211,761 shares.

Another recent and important Approach Resources Inc. (NASDAQ:AREX) news was published by Seekingalpha.com which published an article titled: “Approach Resources: All In The Clear For Now” on November 13, 2016.

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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