Approach Resources (NASDAQ:AREX) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Share on StockTwits

Approach Resources (NASDAQ:AREX) released its earnings results on Thursday. The energy company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.04), Fidelity Earnings reports. The business had revenue of $14.72 million during the quarter, compared to the consensus estimate of $20.61 million. Approach Resources had a negative net margin of 28.00% and a negative return on equity of 4.46%.

Shares of AREX stock traded down $0.02 during trading on Friday, hitting $0.22. The company’s stock had a trading volume of 354,495 shares, compared to its average volume of 341,255. The company has a market cap of $21.55 million, a P/E ratio of -0.87 and a beta of 3.07. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average is $0.29. Approach Resources has a 52 week low of $0.20 and a 52 week high of $2.37.

Several equities analysts have recently issued reports on the company. ValuEngine raised Approach Resources from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research lowered Approach Resources from a “hold” rating to a “sell” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and an average target price of $1.22.

Approach Resources Company Profile

Approach Resources, Inc, an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional oil and gas reserves. The company's properties are primarily located in the Permian Basin in west Texas. It also owns interests in east Texas Basin. As of December 31, 2018, its estimated proved reserves were 180.1 million barrels of oil equivalent located in Crockett and Schleicher counties, Texas.

Further Reading: Short Selling

Earnings History 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.



Latest News

$0.02 EPS Expected for Pareteum Corp  This Quarter
$0.02 EPS Expected for Pareteum Corp This Quarter
Russell Investments Group Ltd. Decreases Stake in Barnes Group Inc.
Russell Investments Group Ltd. Decreases Stake in Barnes Group Inc.
LPL Financial LLC Acquires Shares of 32,305 Hartford Short Duration ETF
LPL Financial LLC Acquires Shares of 32,305 Hartford Short Duration ETF
LPL Financial LLC Has $1.28 Million Stake in Murphy USA Inc
LPL Financial LLC Has $1.28 Million Stake in Murphy USA Inc
Russell Investments Group Ltd. Has $1.89 Million Stock Position in Redfin Corp
Russell Investments Group Ltd. Has $1.89 Million Stock Position in Redfin Corp
Russell Investments Group Ltd. Has $1.92 Million Stake in C&J Energy Services Inc
Russell Investments Group Ltd. Has $1.92 Million Stake in C&J Energy Services Inc


 
© 2006-2019 Zolmax.