Tengasco Inc. [TGC] Stock trading around $1.42 per share: What’s Next?

Tengasco Inc. [AMEX: TGC] gained 46.32% on the last trading session, reaching $1.42 price per share at the time. The company report on October 21, 2020 that Tengasco, Inc. and Riley Exploration-Permian, LLC Announce Merger Agreement.

Tengasco Inc. (NYSE American: TGC) (“Tengasco”) and Riley Exploration – Permian, LLC (“Riley”) announced today that they have entered into a definitive merger agreement in an all-stock transaction. Under the terms of the merger agreement, Tengasco will issue approximately 203 million shares of Tengasco common stock to Riley members at the closing of the transaction. Following the closing of the transaction, the current members of Riley will own 95% of Tengasco and the current Tengasco stockholders will own the remaining 5%. In addition, Riley will become a wholly owned subsidiary of Tengasco.

Riley is a private equity backed company focused on developing conventional oil and natural gas properties in the Northwest Shelf of the Permian Basin. Riley was formed with the goal of building a premier Permian Basin pure-play acquisition, exploration, and development company, focusing on oil-rich, geologically driven sweet spots within legacy oilfields that are conducive to newer drilling and completion techniques. Riley’s acreage is primarily located on large contiguous blocks in Yoakum County, Texas and Lea, Roosevelt and Chaves Counties in New Mexico; and the offset legacy assets are located in the Permian Basin San Andres fields, which include the Wasson and Brahaney Fields.

Tengasco Inc. represents 10.67 million in outstanding shares, while the company has a total market value of $14.34 million with the latest information. TGC stock price has been found in the range of $1.35 to $4.36.

If compared to the average trading volume of 56.24K shares, TGC reached a trading volume of 68984121 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Tengasco Inc. [TGC]:

The Average True Range (ATR) for Tengasco Inc. is set at 0.33, with the Price to Sales ratio for TGC stock in the period of the last 12 months amounting to 3.68. The Price to Book ratio for the last quarter was 2.90, with the Price to Cash per share for the same quarter was set at 0.27.

Trading performance analysis for TGC stock

Tengasco Inc. [TGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 66.82. With this latest performance, TGC shares gained by 75.31% in over the last four-week period, additionally plugging by 167.32% over the last 6 months – not to mention a rise of 132.75% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TGC stock in for the last two-week period is set at 76.72, with the RSI for the last a single of trading hit 83.07, and the three-weeks RSI is set at 72.46 for Tengasco Inc. [TGC]. The present Moving Average for the last 50 days of trading for this stock 0.9069, while it was recorded at 1.0634 for the last single week of trading, and 0.6500 for the last 200 days.

Tengasco Inc. [TGC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Tengasco Inc. [TGC] shares currently have an operating margin of -10.28 and a Gross Margin at +16.23. Tengasco Inc.’s Net Margin is presently recorded at -8.88.

Return on Total Capital for TGC is now -7.55, given the latest momentum, and Return on Invested Capital for the company is -6.59. Return on Equity for this stock declined to -6.65, with Return on Assets sitting at -4.74. When it comes to the capital structure of this company, Tengasco Inc. [TGC] has a Total Debt to Total Equity ratio set at 2.25. Additionally, TGC Total Debt to Total Capital is recorded at 2.20, with Total Debt to Total Assets ending up at 1.60. Long-Term Debt to Equity for the company is recorded at 0.65, with the Long-Term Debt to Total Capital now at 0.63.

Reflecting on the efficiency of the workforce at the company, Tengasco Inc. [TGC] managed to generate an average of -$36,333 per employee. Receivables Turnover for the company is 9.01 with a Total Asset Turnover recorded at a value of 0.53.Tengasco Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.60 and a Current Ratio set at 7.20.

An analysis of insider ownership at Tengasco Inc. [TGC]

There are presently around $0 million, or 52.90% of TGC stock, in the hands of institutional investors. The top three institutional holders of TGC stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 182,587, which is approximately 12.232% of the company’s market cap and around 1.80% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 74,276 shares of the stock with an approximate value of $0.1 million in TGC stocks shares; and VANGUARD GROUP INC, currently with $67000.0 in TGC stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Tengasco Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 3 institutional holders increased their position in Tengasco Inc. [AMEX:TGC] by around 35,851 shares. Additionally, 4 investors decreased positions by around 58,021 shares, while 4 investors held positions by with 257,727 shares. The mentioned changes placed institutional holdings at 351,599 shares, according to the latest SEC report filing. TGC stock had 0 new institutional investments in for a total of 0 shares, while 4 institutional investors sold positions of 58,021 shares during the same period.

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