NEW YORK (

TheStreet

) --

Approach Resources

(Nasdaq:

AREX

) hit a new 52-week high Tuesday as it is currently trading at $35.14, above its previous 52-week high of $34.93 with 218,203 shares traded as of 11 a.m. ET. Average volume has been 519,000 shares over the past 30 days.

Approach has a market cap of $915 million and is part of the

basic materials

sector and

energy

industry. Shares are up 15% year to date as of the close of trading on Monday.

Approach Resources Inc., an independent energy company, engages in the acquisition, exploration, development, and production of oil and gas properties in the United States. The company has a P/E ratio of 55.5, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Approach as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full

Approach Ratings Report

.

See all

52-week high stocks

or get investment ideas from our

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