Tengasco Inc. [TGC] Stock trading around $2.47 per share: What’s Next?

Tengasco Inc. [AMEX: TGC] plunged by -$1.23 during the normal trading session on Friday and reaching a high of $35.40 during the day while it closed the day at $2.47. The company report on February 27, 2021 that Tengasco, Inc. Completes Merger with Riley Exploration – Permian, LLC.

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Tengasco, Inc. (NYSE American: TGC) (“Tengasco” or the “Company”) announced the successful completion (the “Closing”) of its merger with Riley Exploration – Permian, LLC (“Riley Permian”). The merger was previously approved by Tengasco stockholders at the special meeting held on February 25, 2021. In connection with the merger, Tengasco has changed its name to Riley Exploration Permian, Inc.

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It is expected that on Monday, March 1st, the combined company (the “Combined Company”) will commence trading under the symbol REPX on the NYSE American. Concurrently with the Closing, Tengasco conducted a 1-for-12 reverse stock split, resulting in a reduction of outstanding shares of the Combined Company to approximately 17.8 million shares of common stock (after giving effect to both the reverse stock split and the merger).

Tengasco Inc. stock has also loss -40.19% of its value over the past 7 days. However, TGC stock has inclined by 92.97% in the 3 months of the year. Over the past six months meanwhile, it has gained 169.47% and gained 99.19% year-on date.

The market cap for TGC stock reached $39.50 million, with 10.68 million shares outstanding and 10.47 million shares in the current float. Compared to the average trading volume of 2.74M shares, TGC reached a trading volume of 3156864 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Tengasco Inc. [TGC]:

The Average True Range (ATR) for Tengasco Inc. is set at 0.94, with the Price to Sales ratio for TGC stock in the period of the last 12 months amounting to 11.62. The Price to Book ratio for the last quarter was 5.88, with the Price to Cash per share for the same quarter was set at 0.16.

TGC stock trade performance evaluation

Tengasco Inc. [TGC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -40.19. With this latest performance, TGC shares gained by 59.35% in over the last four-week period, additionally plugging by 169.47% over the last 6 months – not to mention a rise of 327.97% 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 46.32, with the RSI for the last a single of trading hit 41.85, and the three-weeks RSI is set at 48.72 for Tengasco Inc. [TGC]. The present Moving Average for the last 50 days of trading for this stock 2.18, while it was recorded at 3.77 for the last single week of trading, and 1.15 for the last 200 days.

Tengasco Inc. [TGC]: An insightful look at the core fundamentals

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 3.50 and a Current Ratio set at 3.80.

Tengasco Inc. [TGC]: Insider Ownership positions

There are presently around $1 million, or 53.10% of TGC stock, in the hands of institutional investors. The top three institutional holders of TGC stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 218,185, which is approximately 5.513% of the company’s market cap and around 1.80% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 49,276 shares of the stock with an approximate value of $0.12 million in TGC stocks shares; and VANGUARD GROUP INC, currently with $0.12 million in TGC stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Tengasco Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 7 institutional holders increased their position in Tengasco Inc. [AMEX:TGC] by around 54,593 shares. Additionally, 2 investors decreased positions by around 26,110 shares, while 2 investors held positions by with 303,204 shares. The mentioned changes placed institutional holdings at 383,907 shares, according to the latest SEC report filing. TGC stock had 4 new institutional investments in for a total of 43,169 shares, while 1 institutional investors sold positions of 1,110 shares during the same period.

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