Touchstone Exploration (TSE:TXP) Shares Up 8.8% – Still a Buy?

Touchstone Exploration Inc. (TSE:TXP)’s share price shot up 8.8% during mid-day trading on Tuesday. The company traded as high as C$0.20 and last traded at C$0.18. 97,929 shares traded hands during trading, a decline of 59% from the average session volume of 236,305 shares. The stock had previously closed at C$0.17.

Touchstone Exploration Price Performance

The business has a fifty day moving average of C$0.16 and a 200-day moving average of C$0.15. The company has a debt-to-equity ratio of 76.60, a quick ratio of 0.69 and a current ratio of 0.57. The firm has a market capitalization of C$83.81 million, a P/E ratio of 4.75, a price-to-earnings-growth ratio of 4.01 and a beta of -0.33.

Touchstone Exploration (TSE:TXP) last announced its earnings results on Friday, August 14th. The company reported C$0.01 earnings per share (EPS) for the quarter. The firm had revenue of C$18.80 million during the quarter. Touchstone Exploration had a net margin of 24.82% and a return on equity of 13.03%. On average, sell-side analysts forecast that Touchstone Exploration Inc. will post 0.06 EPS for the current fiscal year.

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.