Touchstone Exploration (LON:TXP) Trading Up 0.5% – What’s Next?

Touchstone Exploration Inc. (LON:TXP)’s stock price was up 0.5% on Wednesday . The company traded as high as GBX 13 ($0.18) and last traded at GBX 12.82 ($0.17). Approximately 190,101 shares traded hands during trading, a decline of 72% from the average daily volume of 685,575 shares. The stock had previously closed at GBX 12.75 ($0.17).

Analyst Ratings Changes

A number of analysts have weighed in on TXP shares. Shore Capital reissued a “house stock” rating on shares of Touchstone Exploration in a report on Thursday, August 14th. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 35 target price on shares of Touchstone Exploration in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of GBX 47.50.

Touchstone Exploration Stock Performance

The stock’s fifty day moving average is GBX 13.95 and its two-hundred day moving average is GBX 17.28. The firm has a market cap of £33.46 million, a price-to-earnings ratio of 1,281.60 and a beta of 0.70.

Insider Buying and Selling at Touchstone Exploration

In other news, insider Paul R. Baay acquired 22,004 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average price of GBX 28 per share, with a total value of £6,161.12. 3.75% of the stock is currently 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.