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.
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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