Approach Resources Inc. (AREX) Reaches $3.10 After 7.00% Down Move; Southeastern Asset Management Has Upped Its Sonic Corp. (SONC) Position

July 12, 2017 - By Nellie Frank

Southeastern Asset Management Inc increased Sonic Corp. (SONC) stake by 21.64% reported in 2016Q4 SEC filing. Southeastern Asset Management Inc acquired 827,374 shares as Sonic Corp. (SONC)’s stock rose 6.84%. The Southeastern Asset Management Inc holds 4.65M shares with $123.30 million value, up from 3.82M last quarter. Sonic Corp. now has $1.08 billion valuation. The stock declined 0.73% or $0.19 reaching $25.92 on the news. About 179,408 shares traded. Sonic Corporation (NASDAQ:SONC) has declined 5.36% since July 12, 2016 and is downtrending. It has underperformed by 22.06% the S&P500.

The stock of Approach Resources Inc. (NASDAQ:AREX) is a huge mover today! About 425,649 shares traded. Approach Resources Inc. (NASDAQ:AREX) has risen 23.01% since July 12, 2016 and is uptrending. It has outperformed by 6.31% the S&P500.The move comes after 6 months negative chart setup for the $283.29 million company. It was reported on Jul, 12 by Barchart.com. We have $2.88 PT which if reached, will make NASDAQ:AREX worth $19.83M less.

Approach Resources Inc. is an independent energy company. The company has market cap of $283.29 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.

Among 10 analysts covering Approach Resources (NASDAQ:AREX), 2 have Buy rating, 1 Sell and 7 Hold. Therefore 20% are positive. Approach Resources had 20 analyst reports since July 21, 2015 according to SRatingsIntel. Northland Capital maintained Approach Resources Inc. (NASDAQ:AREX) rating on Friday, August 7. Northland Capital has “Market Perform” rating and $3 target. On Wednesday, September 9 the stock rating was downgraded by Macquarie Research to “Neutral”. As per Friday, August 7, the company rating was maintained by RBC Capital Markets. The stock of Approach Resources Inc. (NASDAQ:AREX) has “Hold” rating given on Tuesday, May 24 by Wunderlich. On Wednesday, June 21 the stock rating was downgraded by Seaport Global to “Sell”. Suntrust Robinson upgraded Approach Resources Inc. (NASDAQ:AREX) on Wednesday, October 26 to “Hold” rating. The stock of Approach Resources Inc. (NASDAQ:AREX) has “Buy” rating given on Wednesday, October 26 by Wunderlich. The stock of Approach Resources Inc. (NASDAQ:AREX) has “Hold” rating given on Wednesday, October 26 by SunTrust. KLR Group upgraded the shares of AREX in report on Monday, August 10 to “Accumulate” rating.

Since May 10, 2017, it had 1 buying transaction, and 0 selling transactions for $29,960 activity. 10,000 shares were bought by Gregg Vean J. III, worth $29,960 on Wednesday, May 10.

Investors sentiment increased to 1.54 in 2016 Q4. Its up 0.90, from 0.64 in 2016Q3. It is positive, as 12 investors sold Approach Resources Inc. shares while 16 reduced holdings. 26 funds opened positions while 17 raised stakes. 20.39 million shares or 3.00% less from 21.02 million shares in 2016Q3 were reported. Numeric Limited Liability Co accumulated 0% or 13,300 shares. Hodges Capital Management reported 10,000 shares or 0% of all its holdings. Bnp Paribas Arbitrage owns 37 shares. Jpmorgan Chase &, New York-based fund reported 144,855 shares. California Employees Retirement Sys holds 0.01% or 1.68M shares. Invesco Ltd holds 706,197 shares or 0% of its portfolio. Cooper Creek Prtn Mgmt Ltd Liability invested in 1.32% or 576,357 shares. Moreover, Goldman Sachs Gp Inc has 0% invested in Approach Resources Inc. (NASDAQ:AREX) for 128,970 shares. Engineers Gate Manager L P accumulated 0.04% or 107,767 shares. Marathon Asset Mngmt L P holds 1.07 million shares or 2.83% of its portfolio. Palisade Limited Liability Nj holds 0.02% or 138,600 shares in its portfolio. Wexford Limited Partnership stated it has 200,000 shares or 0.07% of all its holdings. Psagot Investment House invested in 11 shares or 0% of the stock. Dimensional Fund Lp holds 161,294 shares. Morgan Stanley owns 190,168 shares.

Among 13 analysts covering Sonic (NASDAQ:SONC), 4 have Buy rating, 2 Sell and 7 Hold. Therefore 31% are positive. Sonic had 33 analyst reports since August 25, 2015 according to SRatingsIntel. The stock has “Buy” rating by Canaccord Genuity on Tuesday, October 25. The stock of Sonic Corporation (NASDAQ:SONC) earned “Hold” rating by Canaccord Genuity on Monday, March 20. Jefferies maintained the stock with “Hold” rating in Tuesday, June 13 report. Canaccord Genuity maintained the stock with “Hold” rating in Wednesday, June 21 report. The firm has “Hold” rating given on Wednesday, September 28 by Jefferies. The stock has “Outperform” rating by Telsey Advisory Group on Wednesday, September 7. On Tuesday, October 25 the stock rating was downgraded by Telsey Advisory Group to “Market Perform”. Deutsche Bank maintained it with “Hold” rating and $35 target in Wednesday, March 30 report. The company was maintained on Tuesday, October 20 by Telsey Advisory Group. Oppenheimer maintained Sonic Corporation (NASDAQ:SONC) on Friday, June 23 with “Buy” rating.

Since January 11, 2017, it had 0 insider purchases, and 2 selling transactions for $1.48 million activity. Ceron Harold A sold 3,112 shares worth $84,101. 50,000 shares were sold by RICHARDSON FRANK E III, worth $1.41 million on Tuesday, May 16. On Monday, May 8 Cummins Carolyn C. sold $70,978 worth of Sonic Corporation (NASDAQ:SONC) or 2,500 shares.

Investors sentiment decreased to 0.8 in 2016 Q4. Its down 0.06, from 0.86 in 2016Q3. It dropped, as 31 investors sold SONC shares while 72 reduced holdings. 37 funds opened positions while 45 raised stakes. 43.53 million shares or 8.06% less from 47.34 million shares in 2016Q3 were reported. Hightower Advsr Ltd Liability holds 0% of its portfolio in Sonic Corporation (NASDAQ:SONC) for 10,320 shares. Quantum Cap Management accumulated 8,271 shares or 0.06% of the stock. Dimensional Fund LP invested in 1.86 million shares. Pinebridge Invs Ltd Partnership holds 5,963 shares or 0% of its portfolio. Voya Inv Management Ltd holds 831,825 shares. Fifth Third National Bank & Trust reported 0.01% in Sonic Corporation (NASDAQ:SONC). Aperio Lc stated it has 0% of its portfolio in Sonic Corporation (NASDAQ:SONC). Point72 Asset Management Limited Partnership reported 448,700 shares. Manufacturers Life Insur Company The reported 30,987 shares. Chilton Investment Ltd Co invested in 110,142 shares or 0.12% of the stock. Ahl Prtnrs Llp has invested 0.22% in Sonic Corporation (NASDAQ:SONC). Citadel Advsrs Limited Liability accumulated 53,459 shares. California State Teachers Retirement Sys reported 86,090 shares. Illinois-based Group Inc One Trading Ltd Partnership has invested 0% in Sonic Corporation (NASDAQ:SONC). 41,670 were reported by Piermont Management Inc.

Southeastern Asset Management Inc decreased Level 3 Communications Inc. (NYSE:LVLT) stake by 228,279 shares to 27.96 million valued at $1.58 billion in 2016Q4. It also reduced Alphabet Inc. Cl C stake by 138,682 shares and now owns 937,318 shares. Melco Crown Entertainment Ltd. (NASDAQ:MPEL) was reduced too.