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

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

Analysts Set New Price Targets

TXP has been the topic of a number of research analyst reports. Shore Capital reiterated a “house stock” rating on shares of Touchstone Exploration in a report on Thursday, March 20th. Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 60 ($0.77) target price on shares of Touchstone Exploration in a report on Friday, December 13th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a GBX 60 ($0.77) price target on shares of Touchstone Exploration in a report on Thursday, March 20th.

Touchstone Exploration Stock Down 2.1 %

The company has a market cap of £59.11 million, a price-to-earnings ratio of -6.72 and a beta of 0.70. The stock has a 50 day simple moving average of GBX 22.76 and a 200 day simple moving average of GBX 26.94.

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.