(AREX) Major Shareholder Buys $514000.00 in Stock

The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Approach Resources by 14.6% during the second quarter.

On Friday, January 5th, Wilks Brothers, Llc purchased 350,000 shares of Approach Resources stock.

In the transaction dated December 20, 2017, the great number of shares acquired came courtesy the; Wilks Brothers, Llc added a total of 600,000 shares at an average price of $2.81, amounting to approximately $1,686,000. The most optimistic analyst sees the stock reaching $4.25 while the most conventional has $0.5 target price.

On Wednesday, January 3rd, Wilks Brothers, Llc acquired 150,000 shares of Approach Resources stock.

The price-earnings ratio (P/E ratio) is the ratio for valuing a company that measures its current share price relative to its per-share earnings. Its beta value stands at 2.74.

On Friday, December 28th, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. The stock was acquired at an average cost of $3.20 per share, for a total transaction of $480,000.00.

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

On Wednesday, December 27th, Wilks Brothers, Llc bought 350,000 shares of Approach Resources stock.

Approach Resources Inc. has a 52 week low of $1.93 and a 52 week high of $3.65. (NASDAQ:AREX) traded up $0.15 on Wednesday, hitting $3.54. In the past 3-month period alone, shares of AREX have appreciated +1.49 - or +61.07%. The stock has a market capitalization of $342.15 Million however its outstanding shares are 87.06 Million. The company's forward price to earnings ratio for next fiscal year is 0.

Approach Resources (NASDAQ:AREX) last released its earnings results on Wednesday, November 1st. In the last 27 earnings reports, the company has topped earnings-per-share estimates 33% percent of times. 0 analysts recommended Overweight these shares while 2 recommended Underweight, according to FactSet data.

Approach Resources (NASDAQ:AREX) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AREX.

Shares of Approach Resources Inc. Rhumbline Advisers bought a new position in Approach Resources during the 2nd quarter valued at approximately $157,000. Bank of New York Mellon Corp increased its position in Approach Resources by 412.6% during the 2nd quarter. The modest value of the stock is known as the current ABR of the stock. (AREX) for the current quarter is 74.1 percent. California Public Employees Retirement System grew its stake in Approach Resources by 2.2% in the 2nd quarter.

Institutional investors now hold around $68 million or 75.9% in AREX stock. (NASDAQ:AREX) or 10,600 shares. Zacks Investment Research upgraded Approach Resources from a "sell" rating to a "hold" rating in a report on Tuesday, September 19th. Keefe Bruyette & Woods maintained the shares of FNB in report on Thursday, July 20 with "Hold" rating. The rating was maintained by KeyBanc Capital Markets on Monday, November 13 with "Hold". Approach Resources now has a consensus rating of "Hold" and a consensus price target of $3.08. (AREX) is 3.2. The rating scale runs from 1 to 5 with 5 indicating a Strong Sell, 1 indicating a Strong Buy and 3 indicating a Hold. The stock presently has a consensus rating of "Hold" and an average price target of $2.88.

The consensus recommendation for Approach Resources, Inc. "(NASDAQ:AREX) Major Shareholder Wilks Brothers, Llc Purchases 150,000 Shares" was first published by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & worldwide copyright law.

Approach Resources, Inc., an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional gas and oil reserves in the United States.

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