UPDATE: C.K. Cooper Initiates Coverage on Approach Resources with Buy Rating, $43 PT


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In a report published Friday, C.K. Cooper & Company initiated coverage on Approach Resources (NASDAQ: AREX) with a Buy rating and $43.00 price target.C.K. Cooper noted, “We are initiating coverage on Approach Resources Inc. (NASDAQ: AREX) with a BUY rating and a price target of $43.00. AREX is a small cap E&P with an operational focus in the Southern Midland Basin on the southeastern portion of the broader Permian Basin in west Texas. The Company maintains a concentrated footprint of 166,000 gross (146,000 net) acres with multiple, stacked horizontal and vertical targets across its acreage. This operational focus has provided the Company with a strong reserve base, which serves as a solid foundation while establishing a deep inventory of liquids-rich drilling opportunities. Its seasoned management team emphasizes low risk and low cost development, and maintaining financial flexibility to achieve consistent production and reserve growth.”Approach Resources closed on Thursday at $30.67.

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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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Posted In: Analyst ColorInitiationAnalyst RatingsC.K. Cooper & Company