Touchstone Exploration (LON:TXP) Shares Up 12.3% – Here’s What Happened

Touchstone Exploration Inc. (LON:TXP) was up 12.3% on Friday . The stock traded as high as GBX 11.50 and last traded at GBX 10.95. Approximately 547,235 shares were traded during trading, a decline of 62% from the average daily volume of 1,457,041 shares. The stock had previously closed at GBX 9.75.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lowered their price target on Touchstone Exploration from GBX 34 to GBX 32 and set a “speculative buy” rating for the company in a report on Thursday, November 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of GBX 32.

Touchstone Exploration Stock Up 17.9%

The firm has a 50-day simple moving average of GBX 9.18 and a 200 day simple moving average of GBX 10.30. The company has a market cap of £37.34 million, a price-to-earnings ratio of -11.50 and a beta of 0.70.

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.