C.K. Cooper Reiterates Approach Resources Buy, Raises PT to $55

C.K. Cooper reiterated its Approach Resources (NASDAQ: AREX) Buy rating and raised its price target from $48 to $55 in a research report published today.

In the report, C.K. Cooper stated, "Recently, AREX reported continued impressive results in their horizontal Wolfcamp Shale play. During Q4, the company disclosed that four horizontal wells had an average 24-hr IP of 919 boe/d compared to Q3 results that showed an average of 884/boe/d."

Shares of Approach Resources closed today at $35.32, down 0.34% from Friday's market close.