Roth Capital Boosts Torchlight Energy Resources (TRCH) Price Target to $2.70

Torchlight Energy Resources (NASDAQ:TRCH) had its price target raised by investment analysts at Roth Capital from $1.75 to $2.70 in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Roth Capital’s price target suggests a potential upside of 92.86% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Torchlight Energy Resources from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research note on Saturday, January 26th. Noble Financial reaffirmed a “buy” rating and set a $1.45 price target on shares of Torchlight Energy Resources in a research note on Friday, February 22nd.

Shares of TRCH traded down $0.14 on Tuesday, hitting $1.40. 9,720 shares of the stock traded hands, compared to its average volume of 468,291. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.69 and a quick ratio of 0.69. Torchlight Energy Resources has a 1 year low of $0.53 and a 1 year high of $1.98.

A number of large investors have recently bought and sold shares of TRCH. LVM Capital Management Ltd. MI raised its stake in shares of Torchlight Energy Resources by 400.0% in the 4th quarter. LVM Capital Management Ltd. MI now owns 50,000 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 40,000 shares during the period. Vanguard Group Inc raised its stake in shares of Torchlight Energy Resources by 1.8% in the 3rd quarter. Vanguard Group Inc now owns 1,471,296 shares of the oil and gas company’s stock valued at $1,412,000 after acquiring an additional 26,300 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Torchlight Energy Resources by 3.1% in the 4th quarter. BlackRock Inc. now owns 380,417 shares of the oil and gas company’s stock valued at $215,000 after acquiring an additional 11,500 shares during the period. 7.77% of the stock is currently owned by institutional investors.

Torchlight Energy Resources Company Profile

Torchlight Energy Resources, Inc, through its subsidiaries, engages in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States. As of December 31, 2017 it had interests in four oil and gas projects, including the Orogrande project in Hudspeth County, Texas; Hazel project in Sterling, Tom Green, and Irion Counties, Texas; Winkler project in Winkler County, Texas; and Hunton wells in partnership with Husky Ventures in Central Oklahoma.

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