Touchstone Exploration (TSE:TXP) Shares Cross Above Fifty Day Moving Average - Here's Why

Key Points

• Touchstone Exploration Inc. (TSE:TXP) has seen its stock price surpass the 50-day moving average, reaching C$0.27 during trading, up from the average of C$0.26.
• The company, with a market capitalization of C$69.19 million, has a relatively high PE ratio of 26.50 and a beta value of 1.49, indicating higher volatility in comparison to the market.
• Touchstone is primarily involved in the exploration and production of hydrocarbons in Trinidad and Tobago, holding approximately 90,000 gross acres of exploration and development rights in southern Trinidad.

Touchstone Exploration Inc. (TSE:TXP - Get Free Report) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$0.26 and traded as high as C$0.27. Touchstone Exploration shares last traded at C$0.27, with a volume of 20,764 shares trading hands.

Touchstone Exploration Stock Performance

The firm has a market capitalization of C$70.50 million, a price-to-earnings ratio of 27.00, a P/E/G ratio of 4.01 and a beta of 1.49. 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 firm's 50-day simple moving average is C$0.26 and its 200 day simple moving average is C$0.33.

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.