Touchstone Exploration (LON:TXP) Shares Down 4.8% – Here’s What Happened

Touchstone Exploration Inc. (LON:TXP)’s stock price traded down 4.8% on Tuesday . The company traded as low as GBX 26.28 ($0.32) and last traded at GBX 26.90 ($0.33). 625,618 shares traded hands during mid-day trading, an increase of 44% from the average session volume of 433,318 shares. The stock had previously closed at GBX 28.25 ($0.35).

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 60 ($0.74) price objective on shares of Touchstone Exploration in a report on Friday, December 13th. Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 60 ($0.74) price target on shares of Touchstone Exploration in a report on Friday, December 13th. Finally, Shore Capital reiterated a “house stock” rating on shares of Touchstone Exploration in a research note on Friday, December 13th.

Touchstone Exploration Stock Down 4.8 %

The stock has a fifty day simple moving average of GBX 26.71 and a 200-day simple moving average of GBX 30.38. The company has a market capitalization of £63.60 million, a P/E ratio of -672.50 and a beta of 0.70.

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.