Touchstone Exploration (LON:TXP) Shares Down 2.6% – Should You Sell?

Touchstone Exploration Inc. (LON:TXP) shares fell 2.6% on Tuesday . The stock traded as low as GBX 9.50 and last traded at GBX 9.50. 524,037 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 2,375,846 shares. The stock had previously closed at GBX 9.75.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group dropped 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 note on Thursday, November 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Touchstone Exploration presently has a consensus rating of “Buy” and a consensus target price of GBX 32.

Touchstone Exploration Stock Down 0.9%

The stock has a market capitalization of £31.39 million, a P/E ratio of -9.67 and a beta of 0.70. The company has a 50-day moving average price of GBX 8.06 and a two-hundred day moving average price of GBX 11.20.

Insiders Place Their Bets

In other news, insider Peter William Nicol bought 650,000 shares of the stock in a transaction on Monday, December 1st. The shares were acquired at an average cost of GBX 7 per share, for a total transaction of £45,500. Company 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.