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

Shares of 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 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 Price Performance

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 has a fifty day simple moving average of C$0.16 and a 200-day simple moving average of C$0.22. The company has a market capitalization of C$61.70 million, a price-to-earnings ratio of -19.00, a P/E/G 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 net margin of 20.31% and a negative return on equity of 19.06%. The firm had revenue of C$13.81 million for 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 news, Director Kenneth Richard Mckinnon acquired 865,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was bought at an average price 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 of the company’s stock, valued at approximately C$227,026.56. This represents a 84.24% increase in their ownership of the stock. Insiders have acquired a total of 967,000 shares of company stock valued at $125,740 over the last three months. 10.87% of the stock is currently owned by insiders.

Touchstone Exploration Company Profile

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.