Touchstone Exploration (LON:TXP) Stock Price Up 0.3% – Time to Buy?

Touchstone Exploration Inc. (LON:TXP)’s stock price was up 0.3% during trading on Tuesday . The stock traded as high as GBX 6.92 and last traded at GBX 6.92. Approximately 475,219 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 936,921 shares. The stock had previously closed at GBX 6.90.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced their price target on shares of Touchstone Exploration from GBX 34 to GBX 32 and set a “speculative buy” rating on the stock in a research report on Thursday, November 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 32.

Touchstone Exploration Price Performance

The stock has a 50 day simple moving average of GBX 8.46 and a 200-day simple moving average of GBX 12.21. The firm has a market cap of £22.47 million, a PE ratio of -6.92 and a beta of 0.70.

Insider Buying and Selling

In related news, insider Peter William Nicol purchased 650,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were purchased at an average price of GBX 7 per share, with a total value of £45,500. Insiders own 4.08% 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.