Touchstone Exploration (TSE:TXP) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

Touchstone Exploration Inc. (TSE:TXP) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$0.17 and traded as low as C$0.14. Touchstone Exploration shares last traded at C$0.14, with a volume of 247,335 shares trading hands.

Touchstone Exploration Stock Performance

The firm’s 50 day simple moving average is C$0.17 and its 200 day simple moving average is C$0.24. The firm has a market cap of C$43.84 million, a PE ratio of -13.50, a PEG ratio of 4.01 and a beta of 1.22. The company has a current ratio of 0.83, a quick ratio of 0.69 and a debt-to-equity ratio of 42.94.

Touchstone Exploration (TSE:TXP) last issued its earnings results on Thursday, November 13th. The company reported C($0.01) earnings per share (EPS) for the quarter. The firm had revenue of C$13.81 million during the quarter. Touchstone Exploration had a negative return on equity of 19.06% and a negative net margin of 20.31%. On average, research analysts forecast that Touchstone Exploration Inc. will post 0.0647727 EPS for the current fiscal year.

Insider Activity

In other news, Director Kenneth Richard Mckinnon bought 865,000 shares of the stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average cost of C$0.12 per share, for a total transaction of C$103,800.00. Following the transaction, the director owned 1,891,888 shares of the company’s stock, valued at C$227,026.56. The trade was a 84.24% increase in their ownership of the stock. Over the last 90 days, insiders purchased 967,000 shares of company stock worth $125,740. 10.87% of the stock is owned by corporate insiders.

Touchstone Exploration Company Profile

Touchstone Exploration Inc is an international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is primarily engaged in the exploration and the acquisition, development, and production of hydrocarbons in onshore reservoirs in Trinidad. The company holds interests in producing and exploration properties in southern Trinidad, which is approximately 90,000 gross acres of exploration and development rights. Its core focus is on developing production on its four onshore lease operatorship properties (Coora Block 1 & 2, WD-4 & WD-8) and its Fyzabad onshore property.