Touchstone Exploration (TSE:TXP) Stock Price Passes Above 50 Day Moving Average – What’s Next?

Touchstone Exploration Inc. (TSE:TXP)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$0.16 and traded as high as C$0.18. Touchstone Exploration shares last traded at C$0.18, with a volume of 91,262 shares trading hands.

Touchstone Exploration Trading Down 2.8%

The company’s fifty day moving average is C$0.16 and its 200-day moving average is C$0.21. The company has a current ratio of 0.83, a quick ratio of 0.69 and a debt-to-equity ratio of 42.94. The firm has a market capitalization of C$56.83 million, a P/E ratio of -17.50, a P/E/G ratio of 4.01 and a beta of 1.10.

Touchstone Exploration (TSE:TXP) last released its quarterly 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 for the quarter. Touchstone Exploration had a negative net margin of 20.31% and a negative return on equity of 19.06%. As a group, sell-side analysts anticipate that Touchstone Exploration Inc. will post 0.0647727 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Touchstone Exploration news, Director Kenneth Richard Mckinnon purchased 865,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was bought at an average cost of C$0.12 per share, for a total transaction of C$103,800.00. Following the completion of the acquisition, the director directly owned 1,891,888 shares in the company, valued at C$227,026.56. This represents a 84.24% increase in their ownership of the stock. 10.87% of the stock is currently owned by corporate insiders.

About Touchstone Exploration

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.