Touchstone Exploration (LON:TXP) Trading 5.4% Higher – Time to Buy?

Touchstone Exploration Inc. (LON:TXP) was up 5.4% during mid-day trading on Tuesday . The stock traded as high as GBX 24.50 ($0.31) and last traded at GBX 24.50 ($0.31). Approximately 155,720 shares changed hands during trading, a decline of 70% from the average daily volume of 521,961 shares. The stock had previously closed at GBX 23.25 ($0.29).

Analyst Upgrades and Downgrades

TXP has been the subject of a number of recent analyst reports. Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 60 ($0.75) price objective on shares of Touchstone Exploration in a research report on Friday, December 13th. Shore Capital reissued a “house stock” rating on shares of Touchstone Exploration in a research report on Friday, December 13th. Finally, Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 60 ($0.75) price objective on shares of Touchstone Exploration in a research note on Friday, December 13th.

Touchstone Exploration Trading Up 7.5 %

The firm’s fifty day moving average is GBX 28.54 and its 200-day moving average is GBX 30.84. The stock has a market capitalization of £59.11 million, a P/E ratio of -625.00 and a beta of 0.70.

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.