Touchstone Exploration (TSE:TXP) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Touchstone Exploration Inc. (TSE:TXP) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 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 traded.

Touchstone Exploration Stock Down 2.8%

The firm has a market cap of C$56.83 million, a P/E ratio of -17.50, a price-to-earnings-growth ratio of 4.01 and a beta of 1.10. The stock’s 50 day simple moving average is C$0.15 and its 200 day simple moving average is C$0.21. The company has a debt-to-equity ratio of 42.94, a quick ratio of 0.69 and a current ratio of 0.83.

Touchstone Exploration (TSE:TXP) last announced its earnings results on Thursday, November 13th. The company reported C($0.01) earnings per share (EPS) for the quarter. The company 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%. Research analysts anticipate that Touchstone Exploration Inc. will post 0.0647727 EPS for the current year.

Insider Activity at Touchstone Exploration

In other Touchstone Exploration news, Director Kenneth Richard Mckinnon purchased 865,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were 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 acquisition, 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 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.