Newest Short Interest Filing: Time to Reconsider Approach Resources Incorporated (NASDAQ:AREX) After More Short Sellers?

November 24, 2016 - By Richard Conner   ·   0 Comments

Newest Short Interest Filing: Time to Reconsider Approach Resources Incorporated (NASDAQ:AREX) After More Short Sellers?

The stock of Approach Resources Incorporated (NASDAQ:AREX) registered an increase of 0.36% in short interest. AREX’s total short interest was 9.36 million shares in November as published by FINRA. Its up 0.36% from 9.33M shares, reported previously. With 960,300 shares average volume, it will take short sellers 10 days to cover their AREX’s short positions. The short interest to Approach Resources Incorporated’s float is 25.16%. The stock increased 4.09% or $0.13 on November 23, hitting $3.31. About 1.20M shares traded hands or 13.21% up from the average. Approach Resources Inc. (NASDAQ:AREX) has risen 53.24% since April 22, 2016 and is uptrending. It has outperformed by 47.83% the S&P500.

Approach Resources Inc. is an independent energy company. The company has a market cap of $138.16 million. The Firm is focused on the exploration, development, production and acquisition of unconventional gas and oil reserves in the Midland Basin of the greater Permian Basin in West Texas. It currently has negative earnings. The Company’s business segment is the exploration and production of oil, natural gas liquids and natural gas.

Insitutional Activity: The institutional sentiment increased to 0.64 in 2016 Q2. Its up 0.14, from 0.5 in 2016Q1. The ratio increased, as 12 funds sold all Approach Resources Inc. shares owned while 34 reduced positions. 12 funds bought stakes while 11 increased positions. They now own 18.78 million shares or 24.59% less from 24.91 million shares in 2016Q1.
Schneider Cap Corp holds 1.46% of its portfolio in Approach Resources Inc. (NASDAQ:AREX) for 3.71M shares. Northern Corp last reported 0% of its portfolio in the stock. Wells Fargo Mn holds 0% or 900 shares in its portfolio. Moreover, Vanguard Group Inc Inc has 0% invested in Approach Resources Inc. (NASDAQ:AREX) for 1.46 million shares. Bridgeway Capital Mngmt has 507,900 shares for 0.02% of their US portfolio. Invesco has 0% invested in the company for 546,862 shares. Creative Planning has 0% invested in the company for 1,200 shares. Millennium Mgmt Ltd Llc has 318,166 shares for 0% of their US portfolio. Bnp Paribas Arbitrage holds 37 shares or 0% of its portfolio. Bancorporation Of Montreal Can last reported 0% of its portfolio in the stock. Jpmorgan Chase reported 3,043 shares or 0% of all its holdings. Morgan Stanley owns 31,976 shares or 0% of their US portfolio. Parametric Port Associate Limited Liability holds 0% or 50,267 shares in its portfolio. Boston has invested 0% of its portfolio in Approach Resources Inc. (NASDAQ:AREX). Blackrock Institutional Trust Company Na has 750,225 shares for 0% of their US portfolio.

Approach Resources Inc. (NASDAQ:AREX) Ratings Coverage

Out of 8 analysts covering Approach Resources (NASDAQ:AREX), 2 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 25% are positive. Approach Resources has been the topic of 18 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Northland Capital maintained Approach Resources Inc. (NASDAQ:AREX) rating on Friday, August 7. Northland Capital has “Market Perform” rating and $3 price target. RBC Capital Markets maintained Approach Resources Inc. (NASDAQ:AREX) on Friday, August 7 with “Outperform” rating. On Monday, August 10 the stock rating was upgraded by KLR Group to “Accumulate”. The rating was downgraded by Macquarie Research to “Neutral” on Wednesday, September 9. The rating was upgraded by Wunderlich on Wednesday, October 26 to “Buy”. The firm earned “Hold” rating on Wednesday, October 26 by SunTrust. The firm earned “Hold” rating on Tuesday, May 24 by Wunderlich. Suntrust Robinson upgraded the shares of AREX in a report on Wednesday, October 26 to “Hold” rating.

AREX Company Profile

Approach Resources Inc., incorporated on October 12, 2002, is an independent energy company. The Firm is focused on the exploration, development, production and acquisition of unconventional gas and oil 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. The Company’s proved reserves are approximately 166.6 million barrels of oil equivalent (MMBoe). 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 Firm owns and operates approximately 800 producing gas and oil wells in the Permian Basin.

Another recent and important Approach Resources Inc. (NASDAQ:AREX) news was published by Businesswire.com which published an article titled: “Approach Resources Inc. Announces Strategic Alliance and Deleveraging Transactions” on November 02, 2016.

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By Richard Conner


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