Touchstone Exploration (LON:TXP) Sets New 1-Year Low – Should You Sell?

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on TXP. Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 60 ($0.78) target price on shares of Touchstone Exploration in a report on Thursday, March 6th. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 60 ($0.78) price objective on shares of Touchstone Exploration in a report on Friday, December 13th. Finally, Shore Capital reaffirmed a “house stock” rating on shares of Touchstone Exploration in a research report on Thursday, March 6th.

Touchstone Exploration Price Performance

The business’s 50 day moving average price is GBX 24.45 and its 200 day moving average price is GBX 28.29. The stock has a market capitalization of £62.50 million, a P/E ratio of -7.10 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.