Touchstone Exploration (LON:TXP) Trading Down 8.2% – Here’s Why

Touchstone Exploration Inc. (LON:TXP)’s stock price traded down 8.2% during trading on Monday . The company traded as low as GBX 19.23 ($0.25) and last traded at GBX 19.47 ($0.25). 1,214,488 shares traded hands during mid-day trading, an increase of 141% from the average session volume of 504,088 shares. The stock had previously closed at GBX 21.20 ($0.28).

Analysts Set New Price Targets

Several brokerages have weighed in on TXP. Shore Capital reissued a “house stock” rating on shares of Touchstone Exploration in a report on Thursday, March 20th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 60 ($0.79) price objective on shares of Touchstone Exploration in a report on Thursday, March 20th.

Touchstone Exploration Trading Down 8.7 %

The company has a market capitalization of £56.98 million, a P/E ratio of -6.48 and a beta of 0.70. The company’s fifty day moving average is GBX 22.24 and its 200 day moving average is GBX 26.30.

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.