The Somewhat Favorable News Coverage Very Likely to Impact Approach Resources (AREX) Share Price

The Somewhat Favorable News Coverage Very Likely to Impact Approach Resources (AREX) Share Price

Here are some of the news stories that may have impacted AlphaOne Sentiment’s analysis:

News stories about Approach Resources (NASDAQ:AREX) have been trending somewhat positive on Monday, AlphaOne Sentiment Analysis reports. The research group, a subsidiary of Accern, identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real time. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Approach Resources earned a daily sentiment score of 0.04 on AlphaOne’s scale. AlphaOne also assigned media headlines about the energy company an impact score of 84 out of 100, meaning that recent press coverage is very likely to have an effect on the company’s share price in the near term.

Approach Resources (NASDAQ:AREX) opened at 2.66 on Monday. The stock’s 50 day moving average price is $2.52 and its 200-day moving average price is $2.91. Approach Resources has a one year low of $1.35 and a one year high of $4.35. The company’s market capitalization is $187.29 million. Approach Resources (NASDAQ:AREX) last released its quarterly earnings results on Thursday, May 4th. The energy company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Approach Resources had a negative return on equity of 6.45% and a negative net margin of 49.87%. The company had revenue of $26.40 million for the quarter, compared to analysts’ expectations of $25.96 million. During the same period in the prior year, the firm earned ($0.32) earnings per share. The firm’s revenue was up 50.0% compared to the same quarter last year. Equities analysts forecast that Approach Resources will post ($0.32) EPS for the current year.

In other news, insider Wilks Brothers, Llc purchased 200,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were bought at an average cost of $2.61 per share, for a total transaction of $522,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vean J. Gregg III purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were purchased at an average price of $3.00 per share, for a total transaction of $30,000.00. Following the completion of the purchase, the director now directly owns 131,749 shares of the company’s stock, valued at $395,247. The disclosure for this purchase can be found here. Insiders have acquired 1,335,000 shares of company stock worth $3,763,750 over the last 90 days. 7.80% of the stock is owned by insiders. 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 TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:AREX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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