Touchstone Exploration (LON:TXP) Given Speculative Buy Rating at Canaccord Genuity Group

Canaccord Genuity Group reissued their speculative buy rating on shares of Touchstone Exploration (LON:TXP) in a research note issued to investors on Wednesday, MarketBeat reports. Canaccord Genuity Group currently has a GBX 35 target price on the stock.

Separately, Shore Capital reissued a “house stock” rating on shares of Touchstone Exploration in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of GBX 47.50.

Touchstone Exploration Price Performance

Shares of LON:TXP opened at GBX 12.82 on Wednesday. The business has a 50-day moving average of GBX 13.95 and a two-hundred day moving average of GBX 17.28. The firm has a market capitalization of £33.46 million, a PE ratio of 1,281.60 and a beta of 0.70. Touchstone Exploration has a 12 month low of GBX 11.20 and a 12 month high of GBX 39.

Insider Activity

In related news, insider Paul R. Baay bought 22,004 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average cost of GBX 28 per share, for a total transaction of £6,161.12. Company insiders own 3.75% of the company’s stock.

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.