Account Management Has Cut Its Novagold Resources New (NG) Stake; Last Week Approach Resources, Inc. (AREX) Coverage

January 12, 2018 - By Marguerite Chambers

Among 13 analysts covering Approach Resources (NASDAQ:AREX), 2 have Buy rating, 1 Sell and 10 Hold. Therefore 15% are positive. Approach Resources had 24 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of Approach Resources, Inc. (NASDAQ:AREX) has “Hold” rating given on Tuesday, September 5 by KeyBanc Capital Markets. The company was maintained on Monday, November 13 by KeyBanc Capital Markets. The company was upgraded on Wednesday, October 26 by Wunderlich. The firm earned “Hold” rating on Wednesday, October 26 by Suntrust Robinson. Macquarie Research downgraded Approach Resources, Inc. (NASDAQ:AREX) on Wednesday, September 9 to “Neutral” rating. On Wednesday, October 26 the stock rating was upgraded by SunTrust to “Hold”. The stock of Approach Resources, Inc. (NASDAQ:AREX) has “Sell” rating given on Wednesday, June 21 by Seaport Global. The stock has “Accumulate” rating by KLR Group on Monday, August 10. The stock of Approach Resources, Inc. (NASDAQ:AREX) has “Hold” rating given on Tuesday, May 24 by Wunderlich. The stock of Approach Resources, Inc. (NASDAQ:AREX) has “Market Perform” rating given on Friday, August 7 by Northland Capital. See Approach Resources, Inc. (NASDAQ:AREX) latest ratings:

13/11/2017 Broker: KeyBanc Capital Markets Rating: Hold Maintain
26/09/2017 Broker: Robert W. Baird Rating: Hold New Target: $4.0 Maintain
05/09/2017 Broker: KeyBanc Capital Markets Rating: Hold Maintain
18/08/2017 Broker: Imperial Capital Rating: In-Line New Target: $2.5 Initiates Coverage On

Account Management Llc decreased Novagold Resources Inc New (NG) stake by 4.64% reported in 2017Q3 SEC filing. Account Management Llc sold 12,500 shares as Novagold Resources Inc New (NG)’s stock declined 30.30%. The Account Management Llc holds 257,150 shares with $1.06 billion value, down from 269,650 last quarter. Novagold Resources Inc New now has $1.24B valuation. The stock increased 1.16% or $0.045 during the last trading session, reaching $3.925. About 183,783 shares traded. NovaGold Resources Inc. (NYSEMKT:NG) has declined 29.36% since January 12, 2017 and is downtrending. It has underperformed by 46.06% the S&P500.

Approach Resources, Inc., an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional gas and oil reserves in the United States. The company has market cap of $369.97 million. The companyÂ’s properties are primarily located in the Permian Basin in west Texas. It currently has negative earnings. It also owns interests in east Texas Basin.

The stock increased 3.69% or $0.145 during the last trading session, reaching $4.075. About 792,063 shares traded or 46.37% up from the average. Approach Resources, Inc. (NASDAQ:AREX) has risen 23.01% since January 12, 2017 and is uptrending. It has outperformed by 6.31% the S&P500.

Since December 4, 2017, it had 3 insider purchases, and 0 insider sales for $4.17 million activity. Another trade for 550,000 shares valued at $1.43M was bought by Wilks Brothers – LLC.

Investors sentiment decreased to 1.17 in Q3 2017. Its down 0.33, from 1.5 in 2017Q2. It worsened, as 14 investors sold Approach Resources, Inc. shares while 16 reduced holdings. 14 funds opened positions while 21 raised stakes. 20.88 million shares or 1.85% more from 20.50 million shares in 2017Q2 were reported. Vanguard Grp Inc Inc has 0% invested in Approach Resources, Inc. (NASDAQ:AREX). Columbia Pacific Advsr Ltd Liability Corporation owns 0.4% invested in Approach Resources, Inc. (NASDAQ:AREX) for 127,336 shares. American Century Cos owns 0% invested in Approach Resources, Inc. (NASDAQ:AREX) for 132,254 shares. Bancorporation Of America Corp De has 0% invested in Approach Resources, Inc. (NASDAQ:AREX). Parametric Port Limited Liability reported 0% in Approach Resources, Inc. (NASDAQ:AREX). American Group holds 0% in Approach Resources, Inc. (NASDAQ:AREX) or 28,849 shares. Boston Ptnrs reported 597,384 shares. Geode Cap Mgmt Ltd Liability Corporation reported 410,697 shares or 0% of all its holdings. State Street, Massachusetts-based fund reported 517,807 shares. 61,700 are owned by Kornitzer Mgmt Ks. Credit Suisse Ag, a Switzerland-based fund reported 28,657 shares. California State Teachers Retirement holds 0% of its portfolio in Approach Resources, Inc. (NASDAQ:AREX) for 70,700 shares. 1,303 are held by Panagora Asset Management Incorporated. Savings Bank Of New York Mellon has invested 0% in Approach Resources, Inc. (NASDAQ:AREX). Fincl Bank Of Montreal Can holds 303,849 shares or 0% of its portfolio.

Analysts await NovaGold Resources Inc. (NYSEAMERICAN:NG) to report earnings on January, 24. They expect $-0.03 EPS, down 50.00% or $0.01 from last year’s $-0.02 per share. After $-0.03 actual EPS reported by NovaGold Resources Inc. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

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