Stock Mover of The Day: How Analysts Feel About Approach Resources Inc. After Today’s Huge Increase?

Stock Mover of The Day: How Analysts Feel About Approach Resources Inc. After Today's Huge Increase?

The stock of Approach Resources Inc. (NASDAQ:AREX) is a huge mover today! About 695,424 shares traded hands. Approach Resources Inc. (NASDAQ:AREX) has risen 243.48% since March 2, 2016 and is uptrending. It has outperformed by 235.22% the S&P500.
The move comes after 6 months positive chart setup for the $139.32 million company. It was reported on Oct, 5 by Barchart.com. We have $7.17 PT which if reached, will make NASDAQ:AREX worth $147.68 million more.

Analysts await Approach Resources Inc. (NASDAQ:AREX) to report earnings on November, 2. They expect $-0.23 EPS, down 64.29% or $0.09 from last year’s $-0.14 per share. After $-0.25 actual EPS reported by Approach Resources Inc. for the previous quarter, Wall Street now forecasts -8.00% EPS growth.

Approach Resources Inc. (NASDAQ:AREX) Ratings Coverage

Out of 6 analysts covering Approach Resources (NASDAQ:AREX), 1 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 17% are positive. Approach Resources has been the topic of 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Approach Resources Inc. (NASDAQ:AREX) has “Outperform” rating given on Friday, August 7 by RBC Capital Markets. The rating was upgraded by KLR Group on Monday, August 10 to “Accumulate”. The firm earned “Neutral” rating on Wednesday, September 9 by Macquarie Research. The stock of Approach Resources Inc. (NASDAQ:AREX) earned “Hold” rating by Wunderlich on Tuesday, May 24. The stock of Approach Resources Inc. (NASDAQ:AREX) earned “Market Perform” rating by Northland Capital on Friday, August 7.

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 dropped, 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.
Millennium Limited Liability Corporation, a New York-based fund reported 318,166 shares. Bnp Paribas Arbitrage Sa reported 37 shares or 0% of all its holdings. Lmr Partners Ltd Liability Partnership has invested 0.02% of its portfolio in Approach Resources Inc. (NASDAQ:AREX). Tower Research Llc (Trc) has invested 0% of its portfolio in Approach Resources Inc. (NASDAQ:AREX). Needham Inv Ltd Liability Co reported 25,200 shares or 0.01% of all its holdings. Blackrock Inv Mgmt Ltd Llc holds 0% of its portfolio in Approach Resources Inc. (NASDAQ:AREX) for 6,421 shares. Parametric Port Assocs Limited Com accumulated 50,267 shares or 0% of the stock. Brandywine Glob Invest Mgmt Lc accumulated 18,300 shares or 0% of the stock. Goldman Sachs Group Inc Inc Inc has invested 0% of its portfolio in Approach Resources Inc. (NASDAQ:AREX). Kcg accumulated 0% or 67,519 shares. Alpine Vi Limited Liability Company accumulated 0.05% or 47,107 shares. Lubar & Co holds 2.96% of its portfolio in Approach Resources Inc. (NASDAQ:AREX) for 1.01 million shares. Commonwealth Equity Serv Inc holds 12,073 shares or 0% of its portfolio. Brandes Invest Prtn Lp has invested 0% of its portfolio in Approach Resources Inc. (NASDAQ:AREX). National Bank Of New York Mellon last reported 0% of its portfolio in the stock.

Another recent and important Approach Resources Inc. (NASDAQ:AREX) news was published by Benzinga.com which published an article titled: “Mid-Morning Market Update: Markets Open Higher; Constellation Brands Tops Q2 Views” on October 05, 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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