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

Shares of Touchstone Exploration Inc. (TSE:TXP) rose 17.9% during trading on Monday . The stock traded as high as C$0.17 and last traded at C$0.17. Approximately 643,713 shares traded hands 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 Trading Up 25.0%

The firm’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 debt-to-equity ratio of 42.94, a quick ratio of 0.69 and a current ratio of 0.83. The stock has a market capitalization 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.

Touchstone Exploration (TSE:TXP) last posted its 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. As a group, equities research analysts forecast that Touchstone Exploration Inc. will post 0.0647727 EPS for the current fiscal year.

Insider Buying and Selling at Touchstone Exploration

In related news, Director Kenneth Richard Mckinnon purchased 865,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was acquired at an average price 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. This represents a 84.24% increase in their position. In the last quarter, insiders have bought 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.