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

Touchstone Exploration Inc. (TSE:TXP)’s share 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 changing hands.

Touchstone Exploration Stock Performance

The firm’s fifty day moving average price is C$0.16 and its 200-day moving average price is C$0.21. The company has a market cap 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. 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 earnings results on Thursday, November 13th. The company reported C($0.01) earnings per share for the quarter. Touchstone Exploration had a negative return on equity of 19.06% and a negative net margin of 20.31%.The firm had revenue of C$13.81 million for the quarter. As a group, research analysts forecast that Touchstone Exploration Inc. will post 0.0647727 EPS for the current fiscal year.

Insider Activity at Touchstone Exploration

In other news, Director Kenneth Richard Mckinnon bought 865,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was acquired at an average cost of C$0.12 per share, for a total transaction of C$103,800.00. Following the completion of the purchase, the director owned 1,891,888 shares of the company’s stock, valued at C$227,026.56. This trade represents a 84.24% increase in their position. Insiders own 10.87% of the company’s stock.

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.