Touchstone Exploration (LON:TXP) Sets New 52-Week Low – What’s Next?

Touchstone Exploration Inc. (LON:TXP)’s stock price hit a new 52-week low on Wednesday . The company traded as low as GBX 20.50 ($0.27) and last traded at GBX 21.23 ($0.27), with a volume of 583787 shares traded. The stock had previously closed at GBX 21.25 ($0.28).

Analyst Upgrades and Downgrades

A number of analysts recently commented on TXP shares. Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 60 ($0.78) price target on shares of Touchstone Exploration in a research note on Thursday, March 6th. Shore Capital reaffirmed a “house stock” rating on shares of Touchstone Exploration in a research note on Thursday, March 6th. Finally, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 60 ($0.78) target price on shares of Touchstone Exploration in a research report on Friday, December 13th.

Touchstone Exploration Trading Down 0.1 %

The stock’s fifty day moving average is GBX 24.45 and its 200 day moving average is GBX 28.29. The company has a market capitalization of £62.50 million, a P/E ratio of -7.10 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.