Notable Price Action: Is Buying Approach Resources Inc. Here a Winning Strategy?

Notable Price Action: Is Buying Approach Resources Inc. Here a Winning Strategy?

The stock of Approach Resources Inc. (NASDAQ:AREX) is a huge mover today! About 1.87M shares traded hands or 74.77% up from the average. Approach Resources Inc. (NASDAQ:AREX) has risen 0.33% since April 27, 2016 and is uptrending. It has underperformed by 4.89% the S&P500.
The move comes after 5 months positive chart setup for the $144.47M company. It was reported on Nov, 30 by Barchart.com. We have $3.74 PT which if reached, will make NASDAQ:AREX worth $8.67 million more.

Analysts await Approach Resources Inc. (NASDAQ:AREX) to report earnings on March, 2. They expect $-0.20 earnings per share, down 66.67% or $0.08 from last year’s $-0.12 per share. After $-0.23 actual earnings per share reported by Approach Resources Inc. for the previous quarter, Wall Street now forecasts -13.04% EPS growth.

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. The stock of Approach Resources Inc. (NASDAQ:AREX) has “Buy” rating given on Wednesday, October 26 by Wunderlich. The stock of Approach Resources Inc. (NASDAQ:AREX) earned “Hold” rating by Suntrust Robinson on Wednesday, October 26. The company was upgraded on Wednesday, October 26 by SunTrust. Northland Capital maintained the stock with “Market Perform” rating in Friday, August 7 report. The firm has “Outperform” rating given on Friday, August 7 by RBC Capital Markets. Wunderlich maintained the shares of AREX in a report on Tuesday, May 24 with “Hold” rating. The stock has “Accumulate” rating given by KLR Group on Monday, August 10. Macquarie Research downgraded it to “Neutral” rating and $3 target price in Wednesday, September 9 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 increased to 0.64 in 2016 Q2. Its up 0.14, from 0.5 in 2016Q1. The ratio increased, 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.
The Kansas-based Kornitzer Cap Mngmt Ks has invested 0% in Approach Resources Inc. (NASDAQ:AREX). Schneider Cap reported 3.71M shares or 1.46% of all its holdings. Raymond James Financial Svcs Advsrs accumulated 10,300 shares or 0% of the stock. State Street accumulated 22,770 shares or 0% of the stock. Gp One Trading L P reported 72,461 shares or 0% of all its holdings. National Bank & Trust Of Montreal Can holds 0% or 1,103 shares in its portfolio. Deutsche Natl Bank Ag holds 59,601 shares or 0% of its portfolio. The New York-based Art Advsr Lc has invested 0.01% in Approach Resources Inc. (NASDAQ:AREX). Laurion Mgmt L P holds 0% or 100,000 shares in its portfolio. Northern Corporation holds 0% of its portfolio in Approach Resources Inc. (NASDAQ:AREX) for 393,935 shares. Spark Investment Mgmt Limited Liability Company accumulated 0.06% or 305,300 shares. Brandes Invest Prtn Lp last reported 0% of its portfolio in the stock. Us Retail Bank De holds 100 shares or 0% of its portfolio. Dimensional Fund Limited Partnership has 123,508 shares for 0% of their US portfolio. Brandywine Inv Management Ltd reported 18,300 shares or 0% of all its holdings.

More news for Approach Resources Inc. (NASDAQ:AREX) were recently published by: Seekingalpha.com, which released: “Approach Resources: A Fascinating And Scary Change” on November 07, 2016. Businesswire.com‘s article titled: “Approach Resources Inc. Announces Strategic Alliance and Deleveraging Transactions” and published on November 02, 2016 is yet another important article.

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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