Prime Capital Investment Advisors LLC Invests $148,000 in Torchlight Energy Resources Inc (TRCH)

Prime Capital Investment Advisors LLC purchased a new position in Torchlight Energy Resources Inc (NASDAQ:TRCH) in the 1st quarter, Holdings Channel reports. The firm purchased 90,000 shares of the oil and gas company’s stock, valued at approximately $148,000.

Several other hedge funds have also bought and sold shares of the company. LVM Capital Management Ltd. MI grew its holdings 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 during the period. BlackRock Inc. grew its holdings in shares of Torchlight Energy Resources by 3.1% in the fourth quarter. BlackRock Inc. now owns 380,417 shares of the oil and gas company’s stock worth $215,000 after acquiring an additional 11,500 shares during the period. Finally, Vanguard Group Inc grew its holdings 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 during the period. Hedge funds and other institutional investors own 7.77% of the company’s stock.

NASDAQ:TRCH opened at $1.69 on Wednesday. Torchlight Energy Resources Inc has a 52-week low of $0.53 and a 52-week high of $1.98. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.99.

Several analysts recently commented on TRCH shares. Noble Financial set a $3.00 price objective on Torchlight Energy Resources and gave the stock a “buy” rating in a report on Monday, March 25th. Zacks Investment Research raised Torchlight Energy Resources from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a report on Saturday, January 26th. Finally, Roth Capital boosted their price target on Torchlight Energy Resources from $1.75 to $2.70 and gave the company a “buy” rating in a report on Tuesday, April 2nd.

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Torchlight Energy Resources 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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Institutional Ownership by Quarter for Torchlight Energy Resources (NASDAQ:TRCH)

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