Torchlight Energy Resources (NASDAQ:TRCH) Lowered to Sell at ValuEngine
Separately, Zacks Investment Research upgraded Torchlight Energy Resources from a sell rating to a hold rating in a research note on Wednesday, June 5th.
Shares of Torchlight Energy Resources stock traded up $0.05 during midday trading on Thursday, hitting $1.06. The company had a trading volume of 1,531 shares, compared to its average volume of 182,855. The company has a 50 day moving average of $1.33 and a 200 day moving average of $1.39. Torchlight Energy Resources has a 52-week low of $0.53 and a 52-week high of $1.98.
A number of hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its position in Torchlight Energy Resources by 45.6% in the 2nd quarter. Morgan Stanley now owns 164,823 shares of the oil and gas company’s stock valued at $234,000 after acquiring an additional 51,636 shares in the last quarter. Vanguard Group Inc. lifted its position in Torchlight Energy Resources by 29.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,942,710 shares of the oil and gas company’s stock valued at $2,759,000 after acquiring an additional 441,633 shares in the last quarter. BlackRock Inc. lifted its position in Torchlight Energy Resources by 154.8% in the 2nd quarter. BlackRock Inc. now owns 977,130 shares of the oil and gas company’s stock valued at $1,388,000 after acquiring an additional 593,701 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its position in Torchlight Energy Resources by 13.1% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 101,760 shares of the oil and gas company’s stock valued at $144,000 after acquiring an additional 11,760 shares in the last quarter. 9.26% of the stock is currently owned by institutional investors and hedge funds.
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, 2018, 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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