Touchstone Exploration (LON:TXP) Hits New 12-Month Low – Should You Sell?

Touchstone Exploration Inc. (LON:TXP)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as GBX 11 and last traded at GBX 11.40, with a volume of 1063055 shares changing hands. The stock had previously closed at GBX 11.75.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TXP shares. Canaccord Genuity Group reduced their target price on shares of Touchstone Exploration from GBX 35 to GBX 34 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Shore Capital reissued a “house stock” rating on shares of Touchstone Exploration in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Touchstone Exploration currently has a consensus rating of “Buy” and an average price target of GBX 47.

Touchstone Exploration Trading Down 3.0%

The firm has a market cap of £37.02 million, a PE ratio of 11.40 and a beta of 0.70. The business’s 50-day simple moving average is GBX 12.79 and its 200 day simple moving average is GBX 15.38.

Insider Activity

In other Touchstone Exploration news, insider Paul R. Baay acquired 22,004 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were bought at an average cost of GBX 28 per share, with a total value of £6,161.12. Corporate 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.