Touchstone Exploration (LON:TXP) Sets New 52-Week Low – Here’s Why

Shares of Touchstone Exploration Inc. (LON:TXP) reached a new 52-week low during trading on Thursday . The company traded as low as GBX 20.25 ($0.26) and last traded at GBX 20.86 ($0.27), with a volume of 172007 shares traded. The stock had previously closed at GBX 21.50 ($0.28).

Analyst Upgrades and Downgrades

TXP has been the subject of several recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 ($0.78) price objective on shares of Touchstone Exploration in a report on Thursday, March 20th. Shore Capital reiterated a “house stock” rating on shares of Touchstone Exploration in a research report on Thursday, March 20th. Finally, Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 60 ($0.78) target price on shares of Touchstone Exploration in a report on Friday, December 13th.

Touchstone Exploration Stock Down 3.0 %

The stock has a market capitalization of £61.42 million, a PE ratio of -6.98 and a beta of 0.70. The stock’s 50-day moving average is GBX 22.97 and its 200 day moving average is GBX 27.08.

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.