Approach Resources (AREX) : 9 analysts are covering Approach Resources (AREX) and their average rating on the stock is 3.33, which is read as a Hold. Approach Resources (AREX) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 2 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 6 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Approach Resources (AREX) : Currently there are 6 street experts covering Approach Resources (AREX) stock. The most bullish and bearish price target for the stock is $12 and $2 respectively for the short term. The average price target of all the analysts comes to $4.25. The estimated standard deviation from the target is $3.9.
Shares of Approach Resources, Inc. rose by 6.9% in the last five trading days and 68.07% for the last 4 weeks. Approach Resources, Inc. is up 9.84% in the last 3-month period. Year-to-Date the stock performance stands at 51.63%. Approach Resources (NASDAQ:AREX): stock turned positive on Tuesday. Though the stock opened at $2.53, the bulls momentum made the stock top out at $2.97 level for the day. The stock recorded a low of $2.51 and closed the trading day at $2.79, in the green by 8.14%. The total traded volume for the day was 1,368,238. The stock had closed at $2.58 in the previous days trading.
Approach Resources Inc. is an independent energy company. The Company is engaged in the exploration, development, production and acquisition of oil and gas properties in the Midland Basin of the greater Permian Basin in West Texas. The Company focuses on finding and developing oil and natural gas reserves in oil shale and tight gas sands. The Company is developing resource potential from the Wolfcamp shale oil formation. The Companys additional drilling targets include the Clearfork, Canyon Sands, Strawn and Ellenburger zones. The Company refers its development project in the Permian Basin as Project Pangea, which includes Pangea West. The Company also owns interest in the East Texas Basin. The Company owns and operates approximately 729 producing oil and gas wells in the Permian Basin.