Approach Resources Inc. (NASDAQ:AREX) has been upgraded to Hold in a statement by Zacks Investment Research earlier today.
- Updated: October 17, 2016
Having a price of $3.24, Approach Resources Inc. (NASDAQ:AREX) traded -2.78% lower on the day. With the last close up 27.56% from the two hundred day average, compared with the Standard & Poor's 500 Index which has decreased -0.01% over the same period. AREX has recorded a 50-day average of $3.28 and a two hundred day average of $2.47. Trade Volume was down over the average, with 770,215 shares of AREX changing hands under the typical 1,390,520
Zacks Investment Research has upgraded Approach Resources Inc. (NASDAQ:AREX) to Hold in a statement released on 10/17/2016.
Recent Performance Chart
Approach Resources Inc. has with a one year low of $0.60 and a one year high of $4.35 and has a market capitalization of $0.
A total of 8 analysts have released a report on Approach Resources Inc.. One analyst rating the company a strong buy, two analysts rating the company a buy, nine analysts rating the company a hold, one analyst rating the company a underperform, and finally one analyst rating the company a sell with a 12-month price target of $1.41.
General Company Details For 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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