Approach Resources Inc. (NASDAQ:AREX) insider Wilks Brothers, Llc bought 450,000 shares of the firm’s stock in a transaction on Wednesday, January 10th. The shares were bought at an average cost of $3.45 per share, for a total transaction of $1,552,500.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Wilks Brothers, Llc also recently made the following trade(s):

  • On Wednesday, January 3rd, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The shares were bought at an average cost of $3.20 per share, for a total transaction of $480,000.00.
  • On Friday, January 5th, Wilks Brothers, Llc bought 350,000 shares of Approach Resources stock. The shares were bought at an average cost of $3.18 per share, for a total transaction of $1,113,000.00.
  • On Friday, December 28th, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The shares were bought at an average cost of $3.09 per share, for a total transaction of $463,500.00.
  • On Wednesday, December 26th, Wilks Brothers, Llc bought 150,000 shares of Approach Resources stock. The shares were bought at an average cost of $3.05 per share, for a total transaction of $457,500.00.
  • On Wednesday, December 27th, Wilks Brothers, Llc bought 350,000 shares of Approach Resources stock. The shares were bought at an average cost of $2.86 per share, for a total transaction of $1,001,000.00.
  • On Wednesday, December 20th, Wilks Brothers, Llc bought 600,000 shares of Approach Resources stock. The shares were bought at an average cost of $2.81 per share, for a total transaction of $1,686,000.00.
  • On Friday, December 15th, Wilks Brothers, Llc bought 200,000 shares of Approach Resources stock. The shares were bought at an average cost of $2.57 per share, for a total transaction of $514,000.00.
  • On Monday, December 18th, Wilks Brothers, Llc bought 550,000 shares of Approach Resources stock. The shares were bought at an average cost of $2.59 per share, for a total transaction of $1,424,500.00.
  • On Monday, December 11th, Wilks Brothers, Llc bought 50,000 shares of Approach Resources stock. The shares were bought at an average cost of $2.53 per share, for a total transaction of $126,500.00.
  • On Wednesday, December 6th, Wilks Brothers, Llc bought 29,285 shares of Approach Resources stock. The shares were bought at an average cost of $2.39 per share, for a total transaction of $69,991.15.

Shares of Approach Resources Inc. (NASDAQ AREX) traded up $0.39 during trading on Thursday, hitting $3.93. 1,937,356 shares of the company traded hands, compared to its average volume of 856,657. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.69. Approach Resources Inc. has a one year low of $1.93 and a one year high of $4.01. The company has a market capitalization of $306.26, a PE ratio of -1.56 and a beta of 2.67.

Approach Resources (NASDAQ:AREX) last issued its quarterly earnings data on Wednesday, November 1st. The energy company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. 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 analysts’ expectations of $25.74 million. equities research analysts anticipate that Approach Resources Inc. will post -0.36 EPS for the current year.

AREX has been the topic of a number of research reports. KeyCorp reaffirmed a “hold” rating on shares of Approach Resources in a research note on Monday, November 13th. Robert W. Baird reissued a “hold” rating and issued a $4.00 price objective on shares of Approach Resources in a research note on Tuesday, September 26th. ValuEngine cut shares of Approach Resources from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Zacks Investment Research raised shares of Approach Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, October 23rd. Finally, Scotiabank reissued a “hold” rating and issued a $3.00 price objective on shares of Approach Resources in a research note on Wednesday, November 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $2.88.

Hedge funds have recently added to or reduced their stakes in the stock. Virtu KCG Holdings LLC lifted its holdings in Approach Resources by 182.8% in the second quarter. Virtu KCG Holdings LLC now owns 32,033 shares of the energy company’s stock valued at $108,000 after buying an additional 20,705 shares during the period. New York State Common Retirement Fund acquired a new position in Approach Resources in the second quarter valued at $154,000. Rhumbline Advisers acquired a new position in Approach Resources in the second quarter valued at $157,000. Parametric Portfolio Associates LLC lifted its holdings in Approach Resources by 14.6% in the second quarter. Parametric Portfolio Associates LLC now owns 53,322 shares of the energy company’s stock valued at $180,000 after buying an additional 6,781 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Approach Resources in the second quarter valued at $185,000. Institutional investors and hedge funds own 24.63% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This story was first posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://theolympiareport.com/2018/01/11/approach-resources-inc-arex-insider-acquires-1552500-00-in-stock.html.

About Approach Resources

Approach Resources Inc is an independent energy company. 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. The Company’s business segment is the exploration and production of oil, natural gas liquids (NGLs) and natural gas.

Insider Buying and Selling by Quarter for Approach Resources (NASDAQ:AREX)

Receive News & Ratings for Approach Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Approach Resources and related companies with MarketBeat.com's FREE daily email newsletter.