Torchlight Energy Resources Inc (TRCH) Director Michael James Graves Purchases 12,764 Shares

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Torchlight Energy Resources Inc (NASDAQ:TRCH) Director Michael James Graves bought 12,764 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were acquired at an average price of $1.13 per share, with a total value of $14,423.32. Following the completion of the acquisition, the director now directly owns 140,000 shares in the company, valued at approximately $158,200. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Michael James Graves also recently made the following trade(s):

  • On Friday, August 24th, Michael James Graves bought 7,236 shares of Torchlight Energy Resources stock. The shares were acquired at an average price of $1.13 per share, with a total value of $8,176.68.

Shares of NASDAQ TRCH opened at $1.11 on Thursday. Torchlight Energy Resources Inc has a 12 month low of $1.01 and a 12 month high of $1.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.27 and a quick ratio of 2.27.

Separately, Roth Capital assumed coverage on shares of Torchlight Energy Resources in a report on Monday, June 18th. They set a “buy” rating and a $1.75 target price for the company.

Hedge funds and other institutional investors have recently modified their holdings of the company. Usca Ria LLC purchased a new stake in shares of Torchlight Energy Resources during the second quarter worth about $517,000. ING Groep NV purchased a new stake in shares of Torchlight Energy Resources during the second quarter worth about $136,000. Finally, BlackRock Inc. grew its holdings in shares of Torchlight Energy Resources by 12.8% during 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 in the last quarter. Institutional investors and hedge funds own 8.42% of the company’s stock.

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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