Shore Capital Reaffirms House Stock Rating for Touchstone Exploration (LON:TXP)

Touchstone Exploration (LON:TXP)‘s stock had its “house stock” rating restated by stock analysts at Shore Capital in a research note issued to investors on Thursday, Marketbeat.com reports.

A number of other equities analysts have also recently issued reports on TXP. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 60 ($0.78) target price on shares of Touchstone Exploration in a report on Thursday. Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 60 ($0.78) price objective on shares of Touchstone Exploration in a research note on Friday, December 13th.

Touchstone Exploration Stock Up 1.1 %

Shares of LON TXP opened at GBX 22 ($0.28) on Thursday. The firm’s 50-day moving average price is GBX 24.57 and its two-hundred day moving average price is GBX 28.45. Touchstone Exploration has a 52-week low of GBX 20.63 ($0.27) and a 52-week high of GBX 54 ($0.70). The stock has a market capitalization of £64.78 million, a P/E ratio of -7.36 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.