Wall Street brokerages expect Torchlight Energy Resources Inc (NASDAQ:TRCH) to report sales of $320,000.00 for the current quarter, Zacks reports. Two analysts have provided estimates for Torchlight Energy Resources’ earnings. The lowest sales estimate is $130,000.00 and the highest is $500,000.00. The business is scheduled to issue its next earnings report on Friday, February 8th.
On average, analysts expect that Torchlight Energy Resources will report full year sales of $1.51 million for the current fiscal year, with estimates ranging from $1.02 million to $2.00 million. For the next financial year, analysts anticipate that the business will report sales of $2.35 million, with estimates ranging from $2.04 million to $2.65 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Torchlight Energy Resources.
Torchlight Energy Resources (NASDAQ:TRCH) last issued its earnings results on Friday, November 9th. The oil and gas company reported ($0.01) earnings per share for the quarter. The firm had revenue of $0.13 million for the quarter. Torchlight Energy Resources had a negative net margin of 146.68% and a negative return on equity of 11.94%.
TRCH has been the subject of a number of research analyst reports. 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. Noble Financial initiated coverage on Torchlight Energy Resources in a research report on Wednesday, October 24th. They set an “outperform” rating for the company.
NASDAQ TRCH remained flat at $$0.98 on Tuesday. The company’s stock had a trading volume of 85,601 shares, compared to its average volume of 204,446. 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 $1.48.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TRCH. LVM Capital Management Ltd. MI raised its position in shares of Torchlight Energy Resources by 400.0% in the 4th 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. Prime Capital Investment Advisors LLC raised its position in shares of Torchlight Energy Resources by 193.3% in the 3rd 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. BlackRock Inc. raised its position in shares of Torchlight Energy Resources by 12.8% in the 2nd 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, Vanguard Group Inc raised its position in shares of Torchlight Energy Resources by 1.8% in the 3rd 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. 8.72% of the stock is owned by hedge funds and other institutional investors.
About Torchlight Energy Resources
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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