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

Touchstone Exploration Inc. (TSE:TXP) shares crossed 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 changing hands.

Touchstone Exploration Stock Performance

The stock has a market cap 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 debt-to-equity ratio of 42.94, a current ratio of 0.83 and a quick ratio of 0.69. The stock’s 50-day moving average is C$0.15 and its 200-day moving average is C$0.21.

Touchstone Exploration (TSE:TXP) last issued its quarterly 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 business had revenue of C$13.81 million for the quarter. Analysts anticipate that Touchstone Exploration Inc. will post 0.0647727 EPS for the current fiscal year.

Insiders Place Their Bets

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