Touchstone Exploration (LON:TXP) Trading Down 2% – Time to Sell?

Touchstone Exploration Inc. (LON:TXP) shares traded down 2% on Tuesday . The company traded as low as GBX 14.45 ($0.20) and last traded at GBX 14.45 ($0.20). 81,048 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 699,510 shares. The stock had previously closed at GBX 14.75 ($0.20).

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Shore Capital reissued a “house stock” rating on shares of Touchstone Exploration in a research report on Thursday, August 14th. Canaccord Genuity Group dropped their price objective on shares of Touchstone Exploration from GBX 50 to GBX 35 and set a “speculative buy” rating on the stock in a research note on Tuesday, August 19th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Touchstone Exploration has an average rating of “Buy” and an average target price of GBX 47.50.

Touchstone Exploration Stock Down 2.0%

The firm has a market cap of £37.73 million, a PE ratio of 1,445.00 and a beta of 0.70. The company’s fifty day moving average price is GBX 13.88 and its two-hundred day moving average price is GBX 18.16.

Insider Activity at Touchstone Exploration

In related news, insider Paul R. Baay acquired 22,004 shares of Touchstone Exploration stock in a transaction that occurred on Wednesday, September 3rd. The stock was purchased at an average price of GBX 28 per share, for a total transaction of £6,161.12. 3.75% of the stock is owned by company insiders.

About Touchstone Exploration

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.