Touchstone Exploration Inc. (LON:TXP – Get Free Report) was up 7.7% on Wednesday . The company traded as high as GBX 6.79 and last traded at GBX 6.57. Approximately 976,624 shares changed hands during trading, an increase of 12% from the average daily volume of 870,524 shares. The stock had previously closed at GBX 6.10.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on TXP. Shore Capital reiterated a “house stock” rating on shares of Touchstone Exploration in a report on Thursday, August 14th. Canaccord Genuity Group cut their target price on Touchstone Exploration from GBX 34 to GBX 32 and set a “speculative buy” rating for the company in a research note on Thursday, November 13th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of GBX 46.
Get Our Latest Analysis on TXP
Touchstone Exploration Stock Up 8.7%
Insiders Place Their Bets
In related news, insider Paul R. Baay acquired 22,004 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average price of GBX 28 per share, with a total value of £6,161.12. Insiders own 3.68% of the company’s stock.
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.
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