Touchstone Exploration (LON:TXP) Stock Price Up 10.8% – Here’s What Happened

Touchstone Exploration Inc. (LON:TXP) rose 10.8% during trading on Monday . The stock traded as high as GBX 21 ($0.28) and last traded at GBX 20.75 ($0.28). Approximately 1,374,997 shares were traded during trading, an increase of 120% from the average daily volume of 623,599 shares. The stock had previously closed at GBX 18.74 ($0.25).

Analyst Ratings Changes

TXP has been the subject of several analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 60 ($0.81) target price on shares of Touchstone Exploration in a report on Thursday, March 20th. Shore Capital reaffirmed a “house stock” rating on shares of Touchstone Exploration in a report on Thursday, May 8th.

Touchstone Exploration Stock Performance

The firm has a 50 day moving average of GBX 19.80 and a 200-day moving average of GBX 22.71. The stock has a market capitalization of £61.10 million, a PE ratio of -6.95 and a beta of 0.70.

Touchstone Exploration Company Profile

Touchstone Exploration Inc is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is one of the largest independent onshore oil producers in Trinidad, with an experienced management and executive team that have a track record of delivering value to shareholders.

The Company’s strategy is to leverage the Board’s extensive oil recovery experience and capability to develop international onshore properties that create shareholder value.

In Trinidad, the Company’s interests in approximately 90,000 gross acres of exploration and development rights make it one of the largest independent onshore oil producers in Trinidad.