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Approach Resources Inc. (NASDAQ:AREX) has been upgraded to Hold in a report by Zacks Investment Research today.

Zacks Investment Research has upgraded Approach Resources Inc. (NASDAQ:AREX) to Hold in a report released on 6/20/2017.

Yesterday Approach Resources Inc. (NASDAQ:AREX) traded -1.83% lower at $2.61. The company’s 50-day moving average is $2.63 and its 200-day moving average is $2.63. The last stock close price is down 1.95% from the 200-day moving average, compared to the S&P 500 which has increased 0.04% over the same time. 594,483 shares of the stock were exchanged, down from an average trading volume of 716,200

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Approach Resources Inc. (NASDAQ:AREX)

Approach Resources Inc. has a 52 week low of $1.93 and a 52 week high of $4.33 The company’s market cap is currently $0.

Also covering Approach Resources Inc.'s price target, a total of 8 firms have reported on the stock. The consensus target price is $1.41 with one equity analyst rating the company a strong buy, 2 brokers rating the stock a buy, 9 brokers rating the company a hold, one brokerage rating the company a underperform, and lastly 1 brokerage rating the stock a sell.

Brief Synopsis On Approach Resources Inc. (NASDAQ:AREX)

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. The Company's assets cover an area of approximately 126,000 net acres. Its proved reserves are approximately 166.6 million barrels of oil equivalent. The Company's proved reserves are primarily located in Crockett and Schleicher Counties, Texas. The Company's Permian Basin acreage is known as the Project Pangea. The Company owns and operates approximately 800 producing oil and gas wells in the Permian Basin. The Company, through a joint venture with EnCana Oil & Gas (USA) Inc., holds interests in the approximately 3,000 gross acre project in Limestone and Robertson Counties, Texas, in the East Texas Cotton Valley trend.

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