TORCHLIGHT ENERGY RESOURCES, INC

SHORT INTEREST DECLINES BY 56%

Joins Russell Microcap Index - UPDATE

HITS 52 WEEK HIGH THEN CONSOLIDATES - DOUBLES IN SIX MOTHS

SHORT INTEREST DECLINES BY 56%

 Target Price Raised Again To $2.35. - STRONG BUY

In the past 52 weeks, these shares have traded as low as $0.42 and as high as $1.88. Technical traders will take note this recent surge is just the beginning to a far greater upward move. Oil is trending higher.

We expect these shares to retest its 52 week high of $1.88 befor advancing higher

Technical analysts pay close attention to these key indices such as the 52 week high because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as VERY BULLISH. -  Chronicle Business Sets Target At $7.44  -  Short Report -

 

Torchlight Energy: A Billion Barrel Vision Nears Proof of Concept  Recent Article

MORE ON TRCH - NASDAQ  - Seeking Alpha Target $2.50-$3.00

Torchlight Energy Resources, Inc. (TRCH) Short Interest Down 56.4% in September

Torchlight Energy Resources, Inc. (NASDAQ:TRCH) saw a large decline in short interest in the month of September. As of September 29th, there was short interest totalling 1,342,280 shares, a decline of 56.4% from the September 15th total of 3,079,910 shares. Approximately 3.2% of the shares of the company are sold short. Based on an average trading volume of 195,348 shares, the days-to-cover ratio is currently 6.9 days.

Torchlight Energy Resources (TRCH) opened at 1.24 on Friday. The company’s 50 day moving average price is $1.26 and its 200-day moving average price is $1.37. Torchlight Energy Resources has a 52 week low of $0.66 and a 52 week high of $1.96. The company’s market capitalization is $74.66 million.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Torchlight Energy Resources by 48.7% during the second quarter. Vanguard Group Inc. now owns 1,189,117 shares of the oil and gas company’s stock valued at $1,974,000 after acquiring an additional 389,557 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Torchlight Energy Resources by 55.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 779,787 shares of the oil and gas company’s stock valued at $1,294,000 after acquiring an additional 277,388 shares in the last quarter. Finally, Northern Trust Corp raised its position in Torchlight Energy Resources by 3.1% during the second quarter. Northern Trust Corp now owns 91,230 shares of the oil and gas company’s stock valued at $151,000 after acquiring an additional 2,716 shares in the last quarter. Institutional investors own 7.13% of the company’s stock.

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About Torchlight Energy Resources

Torchlight Energy Resources, Inc (Torchlight) is engaged in the acquisition, exploration, exploitation and/or development of oil and natural gas properties in the United States. The Company focuses on drilling and working interest programs within the United States. The Company has interests in approximately four oil and gas projects: the Marcelina Creek Field Development in Wilson County, Texas; the Ring Energy Joint Venture in Southwest Kansas; Hunton wells in partnership with Husky Ventures in Central Oklahoma, and the Orogrande Project in Hudspeth County, Texas.

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News & Analysis

Publish Date Headline
Sep 25, 2017 Torchlight Energy to Present At The Johnson Rice & Company 2017 Energy Conference
Sep 21, 2017 Energy/Materials - Top Gainers / Losers as of 2:00 pm
Sep 6, 2017 Torchlight Energy Announces Frac Stimulation Completed on Flying B Ranch #3H
Sep 1, 2017 Energy/Materials - Top Gainers / Losers as of 2:00 pm
Aug 28, 2017 Torchlight Energy +15% as fracking starts at first Permian horizontal well
Aug 28, 2017 Torchlight Energy Announces Frac Underway On Its First Permian Basin Horizontal Well
Aug 15, 2017 Energy/Materials - Top Gainers / Losers as of 2:00 pm
Aug 15, 2017 Torchlight Energy Provides Operational Update
Aug 10, 2017 Energy/Materials - Top Gainers / Losers as of 2:00 pm
Aug 4, 2017 Streetwise Reports Examines How Horizontal Well in Permian Basin was Completed

 
















 

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