Touchstone Exploration (LON:TXP) Sets New 52-Week Low – Here’s Why

Touchstone Exploration Inc. (LON:TXP) shares hit a new 52-week low on Wednesday . The company traded as low as GBX 19 ($0.24) and last traded at GBX 20 ($0.26), with a volume of 515411 shares changing hands. The stock had previously closed at GBX 20 ($0.26).

Analysts Set New Price Targets

A number of research firms have weighed in on TXP. Shore Capital restated a “house stock” rating on shares of Touchstone Exploration in a research note on Thursday, March 20th. Canaccord Genuity Group restated a “buy” rating and issued a GBX 60 ($0.77) price target on shares of Touchstone Exploration in a research note on Thursday, March 20th. Finally, Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 60 ($0.77) price target on shares of Touchstone Exploration in a research note on Friday, December 13th.

Touchstone Exploration Price Performance

The stock has a market cap of £58.89 million, a price-to-earnings ratio of -6.69 and a beta of 0.70. The stock’s 50-day moving average is GBX 22.51 and its 200-day moving average is GBX 26.64.

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.