Torchlight Energy Resources Inc (TRCH) Expected to Post Quarterly Sales of $320,000.00

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Equities analysts forecast that Torchlight Energy Resources Inc (NASDAQ:TRCH) will report 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. The lowest sales estimate is $130,000.00 and the highest is $500,000.00. The company is scheduled to announce its next earnings report on Friday, March 22nd.

On average, analysts expect that Torchlight Energy Resources will report full-year sales of $1.51 million for the current year, with estimates ranging from $1.02 million to $2.00 million. For the next year, analysts forecast that the company will report sales of $2.35 million, with estimates ranging from $2.04 million to $2.65 million. Zacks’ sales averages are an average based on a survey of analysts that follow Torchlight Energy Resources.

TRCH has been the topic of several recent research reports. Zacks Investment Research cut shares of Torchlight Energy Resources from a “buy” rating to a “hold” rating in a research note on Wednesday. Noble Financial reaffirmed a “buy” rating and issued a $1.45 price objective on shares of Torchlight Energy Resources in a research note on Friday, February 22nd.

Several institutional investors and hedge funds have recently made changes to their positions in TRCH. BlackRock Inc. boosted its holdings 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 buying an additional 41,904 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings 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 buying an additional 106,300 shares during the period. Vanguard Group Inc boosted 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 buying an additional 26,300 shares during the period. Finally, LVM Capital Management Ltd. MI boosted 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 buying an additional 40,000 shares during the period. Institutional investors own 7.94% of the company’s stock.

Torchlight Energy Resources stock traded down $0.05 during trading hours on Friday, hitting $1.71. 300 shares of the company traded hands, compared to its average volume of 573,951. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.84 and a quick ratio of 0.84. 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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