Research analysts at Imperial Capital assumed coverage on shares of Approach Resources (NASDAQ: AREX)
Approach Resources traded up 1.52% on Wednesday, hitting $25.98. Approach Resources has a 52-week low of $22.36 and a 52-week high of $39.18. The stock?s 50-day moving average is currently $24.72. The company?s market cap is $888.3 million.
Approach Resources last released its earnings data on Monday, November 5th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.05 by $0.04. The company had revenue of $33.04 million for the quarter, compared to the consensus estimate of $33.12 million. The company?s revenue for the quarter was up 18.2% on a year-over-year basis. On average, analysts predict that Approach Resources will post $0.17 earnings per share for the current fiscal year.
AREX has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity initiated coverage on shares of Approach Resources in a research note to investors on Tuesday, December 11th. They set a ?buy? rating and a $32.00 price target on the stock. Separately, analysts at Global Hunter Securities downgraded shares of Approach Resources from a ?buy? rating to a ?neutral? rating in a research note to investors on Wednesday, November 7th. Finally, analysts at Wunderlich cut their price target on shares of Approach Resources from $50.00 to $48.00 in a research note to investors on Wednesday, November 7th. They now have a ?buy? rating on the stock.
Eleven investment analysts have rated the stock with a buy rating, three have given an overweight rating, four have given a hold rating, and one has assigned an underweight rating to the stock. Approach Resources has an average rating of ?overweight? and a consensus target price of $36.03.
Approach Resources Inc. (Approach) is an independent energy company engaged in the exploration, development, production and acquisition of oil and gas properties.