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News Breaks
May 12, 2014
08:47 EDTAREXApproach Resources price target lowered to $23 from $28 at Canaccord
Canaccord lowered its price target on Approach Resources to $23 to reflect a proper gap between stock price and net asset value. The firm noted a solid rebound in production and lowered costs and considers the company a pure play on the Permian Basin. Shares are Buy rated.
News For AREX From The Last 14 Days
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February 25, 2015
18:31 EDTAREXApproach Resources reports Q4 adjusted EPS 8c, consensus 10c
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18:25 EDTAREXApproach Resources sees FY15 CapEx approximately $160M
The company said, "In December 2014, we announced a capital spending budget for 2015 of $180 million. Given the continued decline in crude oil prices, we have further reduced our spending plans by an additional 11% to approximately $160 million, including up to $9 million for infrastructure expenses. We plan to operate an average of one rig in 2015, compared to three rigs in 2014, with the flexibility to increase or decrease the number of rigs running depending on market conditions."
February 20, 2015
10:01 EDTAREXOn The Fly: Analyst Downgrade Summary
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06:25 EDTAREXApproach Resources downgraded to Hold from Buy at Canaccord
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