Analysts Expect Torchlight Energy Resources Inc (TRCH) Will Announce Quarterly Sales of $320,000.00

Analysts expect Torchlight Energy Resources Inc (NASDAQ:TRCH) to announce sales of $320,000.00 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Torchlight Energy Resources’ earnings, with the lowest sales estimate coming in at $130,000.00 and the highest estimate coming in at $500,000.00. The business is scheduled to issue its next quarterly earnings report on Friday, March 15th.

On average, analysts expect that Torchlight Energy Resources will report full year sales of $1.51 million for the current financial year, with estimates ranging from $1.02 million to $2.00 million. For the next year, analysts forecast that the firm will post sales of $2.35 million, with estimates ranging from $2.04 million to $2.65 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Torchlight Energy Resources.

Several brokerages have recently weighed in on TRCH. Noble Financial reaffirmed a “buy” rating and issued a $1.45 target price on shares of Torchlight Energy Resources in a research report on Friday, February 22nd. Zacks Investment Research raised Torchlight Energy Resources from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research report on Saturday, January 26th.

Large investors have recently added to or reduced their stakes in the stock. LVM Capital Management Ltd. MI lifted its stake in shares of Torchlight Energy Resources by 400.0% in the fourth quarter. LVM Capital Management Ltd. MI now owns 50,000 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 40,000 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of Torchlight Energy Resources by 1.8% in the third quarter. Vanguard Group Inc now owns 1,471,296 shares of the oil and gas company’s stock worth $1,412,000 after acquiring an additional 26,300 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Torchlight Energy Resources by 12.8% in the second quarter. BlackRock Inc. now owns 370,505 shares of the oil and gas company’s stock worth $504,000 after acquiring an additional 41,904 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its stake in shares of Torchlight Energy Resources by 193.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 161,300 shares of the oil and gas company’s stock worth $155,000 after acquiring an additional 106,300 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Shares of NASDAQ TRCH opened at $1.56 on Friday. Torchlight Energy Resources has a 1-year low of $0.53 and a 1-year high of $1.98. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.76.

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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