The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.
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.
On Wednesday, December 27th, Wilks Brothers, Llc bought 350,000 shares of Approach Resources stock. While it's Return on Investment (ROI) value is -2%.
On Friday, December 15th, Wilks Brothers, Llc acquired 200,000 shares of Approach Resources stock. The stock was acquired at an average cost of $2.57 per share, for a total transaction of $514,000.00.
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On Monday, December 11th, Wilks Brothers, Llc bought 50,000 shares of Approach Resources stock. The stock was acquired at an average price of $2.39 per share, with a total value of $69,991.15. The shares were purchased at an average price of $3.18 per share, for a total transaction of $1,113,000.00. Finally, Robert W. Baird reaffirmed a "hold" rating and set a $4.00 target price on shares of Approach Resources in a report on Tuesday, September 26th. To measure price-variation, we found AREX's volatility during a week at 5.55% and during a month it has been found around 5.94%. The stock exchanged hands 1.94 Million shares versus average trading capacity of 529 Million shares.
Based on current stock levels, Approach Resources, Inc. shares are trading 4.57% off of the 50-day high and 91.91% away from the 50-day low. Approach Res. Inc (NASDAQ:AREX)'s price to earnings ratio stood at 0. KS now owns 61,700 shares of the energy company's stock valued at $155,000 after purchasing an additional 25,000 shares during the period.
Approach Resources (NASDAQ:AREX) last released its earnings results on Wednesday, November 1st. Previously Approach Res. Inc (NASDAQ:AREX) reported $-0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $-0.09 by $0.01 with surprise factor of 11.1%. Approach Resources had a negative net margin of 165.95% and a negative return on equity of 6.39%. The company had revenue of $25.61 million for the quarter, compared to analyst estimates of $25.74 million. research analysts forecast that Approach Resources Inc. will post -0.36 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock.
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The company's quick ratio for most recent quarter is 0.4 along with current ratio for most recent quarter of 0.4. New York State Common Retirement Fund bought a new stake in shares of Approach Resources during the 2nd quarter valued at $154,000. KS raised its holdings in shares of Approach Resources by 68.1% during the third quarter.
On Wednesday, January 3rd, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. Parametric Portfolio Associates LLC now owns 53,322 shares of the energy company's stock valued at $180,000 after purchasing an additional 6,781 shares during the period. For the next 5 years, the company is expected to grow by 4 percent.
Several other equities analysts have also weighed in on AREX. Keefe Bruyette & Woods maintained the shares of FNB in report on Thursday, July 20 with "Hold" rating. Goldman Sachs Grp Inc Inc Inc holds 0% of its portfolio in Approach Resources, Inc. KeyBanc Capital Markets maintained the stock with "Hold" rating in Monday, November 13 report. Zacks Investment Research upgraded Approach Resources from a "sell" rating to a "hold" rating in a report on Tuesday, September 19th. As per Zacks simplified descending rating scale the ABR rank is displayed in the range of 1 to 5 where 1 represents Strong Buy and 5 a Strong Sell.
In case of Revenue Estimates, 6 analysts have provided their consensus Average Revenue Estimates for Approach Resources, Inc.as 28.62 Million. The insider, WILKS BROTHERS, LLC, now holds 37.15 million shares of AREX. If you are accessing this report on another website, it was illegally copied and republished in violation of United States & global copyright & trademark legislation. The Company is focused on the exploration, development, production and acquisition of unconventional oil and gas reserves in the Midland Basin of the greater Permian Basin in West Texas.
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