Touchstone Exploration (TSE:TXP) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Touchstone Exploration Inc. (TSE:TXP) shares crossed below its fifty day moving average during trading on Monday . The stock has a fifty 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 traded.

Touchstone Exploration Stock Performance

The company 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. The business’s 50 day moving average is C$0.17 and its two-hundred day moving average is C$0.24.

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

Insiders Place Their Bets

In other Touchstone Exploration news, Director Kenneth Richard Mckinnon purchased 865,000 shares of the company’s stock in a transaction 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 purchase, the director directly 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. In the last ninety days, insiders purchased 967,000 shares of company stock valued at $125,740. Corporate 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.