Touchstone Exploration (LON:TXP) Trading 16.8% Higher – Still a Buy?

by · The Markets Daily

Shares of Touchstone Exploration Inc. (LON:TXP – Get Free Report) rose 16.8% on Tuesday . The company traded as high as GBX 8 and last traded at GBX 8. Approximately 1,539,407 shares were traded during trading, an increase of 65% from the average daily volume of 930,927 shares. The stock had previously closed at GBX 6.85.

Analyst Upgrades and Downgrades

A number of research firms have commented on TXP. Canaccord Genuity Group reduced their target price 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. Shore Capital reiterated a “house stock” rating on shares of Touchstone Exploration in a report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 46.

Check Out Our Latest Stock Report on TXP

Touchstone Exploration Price Performance

The company has a 50-day moving average price of GBX 9.98 and a 200-day moving average price of GBX 13.56. The firm has a market capitalization of £25.65 million, a PE ratio of -7.90 and a beta of 0.70.

Insider Activity at Touchstone Exploration

In other news, insider Peter William Nicol purchased 650,000 shares of the stock in a transaction dated Monday, December 1st. The stock was acquired at an average cost of GBX 7 per share, for a total transaction of £45,500. 4.08% of the stock is currently owned by company insiders.

Touchstone Exploration Company Profile

(Get Free Report)

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.

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