Touchstone Exploration (TSE:TXP) Trading Up 17.9% – Here’s Why

Touchstone Exploration Inc. (TSE:TXP) rose 17.9% on Monday . The stock traded as high as C$0.17 and last traded at C$0.17. Approximately 643,713 shares were traded during mid-day trading, an increase of 77% from the average daily volume of 364,151 shares. The stock had previously closed at C$0.14.

Touchstone Exploration Stock Up 25.0%

The firm has a market capitalization of C$56.83 million, a PE ratio of -17.50, a price-to-earnings-growth ratio of 4.01 and a beta of 1.10. The company’s fifty day simple moving average is C$0.16 and its 200 day simple moving average is C$0.23. The company has a quick ratio of 0.69, a current ratio of 0.83 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) EPS for the quarter. The company had revenue of C$13.81 million during the quarter. Touchstone Exploration had a negative return on equity of 19.06% and a negative net margin of 20.31%. 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 bought 865,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was purchased at an average cost of C$0.12 per share, with a total value of C$103,800.00. Following the completion of the acquisition, the director owned 1,891,888 shares in the company, valued at C$227,026.56. This trade represents a 84.24% increase in their position. Insiders purchased 967,000 shares of company stock worth $125,740 over the last three months. 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.