Canaccord Genuity Group Issues Pessimistic Forecast for Touchstone Exploration (LON:TXP) Stock Price

Touchstone Exploration (LON:TXP) had its target price cut by stock analysts at Canaccord Genuity Group from GBX 35 to GBX 34 in a research report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 198.27% from the company’s previous close.

Separately, Shore Capital restated a “house stock” rating on shares of Touchstone Exploration in a report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 47.

Touchstone Exploration Price Performance

LON:TXP opened at GBX 11.40 on Wednesday. The firm has a market capitalization of £29.76 million, a price-to-earnings ratio of 11.40 and a beta of 0.70. The company’s 50-day moving average is GBX 13.14 and its two-hundred day moving average is GBX 15.84. Touchstone Exploration has a 1-year low of GBX 11 and a 1-year high of GBX 39.

Insider Activity at Touchstone Exploration

In related news, insider Paul R. Baay acquired 22,004 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average cost of GBX 28 per share, for a total transaction of £6,161.12. Corporate insiders own 3.83% of the company’s stock.

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.