Touchstone Exploration (LON:TXP) Trading Down 15.6% – Time to Sell?

Touchstone Exploration Inc. (LON:TXP)’s stock price traded down 15.6% during mid-day trading on Tuesday . The company traded as low as GBX 8.50 and last traded at GBX 9.28. 4,028,434 shares changed hands during mid-day trading, an increase of 183% from the average session volume of 1,422,778 shares. The stock had previously closed at GBX 11.

Touchstone Exploration Trading Down 13.6%

The firm has a market cap of £30.85 million, a PE ratio of -9.50 and a beta of 0.12. The company has a 50-day simple moving average of GBX 9.65 and a 200 day simple moving average of GBX 9.84.

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.