Touchstone Exploration (TSE:TXP) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Touchstone Exploration Inc. (TSE:TXP) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$0.15 and traded as high as C$0.19. Touchstone Exploration shares last traded at C$0.18, with a volume of 676,324 shares trading hands.

Touchstone Exploration Stock Performance

The stock has a 50-day simple moving average of C$0.15 and a 200-day simple moving average of C$0.21. The company has a market capitalization of C$56.83 million, a price-to-earnings ratio of -17.50, a price-to-earnings-growth ratio of 4.01 and a beta of 1.10. 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 released its quarterly earnings results on Thursday, November 13th. The company reported C($0.01) earnings per share for the quarter. The company had revenue of C$13.81 million for the quarter. Touchstone Exploration had a negative return on equity of 19.06% and a negative net margin of 20.31%. On average, analysts anticipate that Touchstone Exploration Inc. will post 0.0647727 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kenneth Richard Mckinnon acquired 865,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was bought at an average cost of C$0.12 per share, with a total value of C$103,800.00. Following the acquisition, the director directly owned 1,891,888 shares in the company, valued at approximately C$227,026.56. The trade was a 84.24% increase in their ownership of the stock. 10.87% of the stock is currently 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.