Touchstone Exploration (LON:TXP) Trading 0.3% Higher – What’s Next?

Touchstone Exploration Inc. (LON:TXP)’s stock price traded up 0.3% on Tuesday . The company traded as high as GBX 6.92 and last traded at GBX 6.92. 475,219 shares changed hands during trading, a decline of 49% from the average session volume of 936,921 shares. The stock had previously closed at GBX 6.90.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reduced their price objective on shares of 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. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 32.

Touchstone Exploration Stock Up 1.3%

The company has a market cap of £22.69 million, a price-to-earnings ratio of -6.99 and a beta of 0.70. The company has a fifty day simple moving average of GBX 8.37 and a two-hundred day simple moving average of GBX 12.18.

Insiders Place Their Bets

In other Touchstone Exploration news, insider Peter William Nicol bought 650,000 shares of the company’s stock in a transaction on Monday, December 1st. The stock was purchased at an average cost of GBX 7 per share, for a total transaction of £45,500. Company insiders own 4.08% 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.