Touchstone Exploration (LON:TXP) Trading Up 4.4% – Should You Buy?

Touchstone Exploration Inc. (LON:TXP) shares shot up 4.4% during mid-day trading on Tuesday . The stock traded as high as GBX 25.54 ($0.32) and last traded at GBX 24.80 ($0.31). 1,255,758 shares were traded during trading, an increase of 194% from the average session volume of 427,599 shares. The stock had previously closed at GBX 23.75 ($0.30).

Analysts Set New Price Targets

Several research firms have recently issued reports on TXP. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 60 ($0.76) target price on shares of Touchstone Exploration in a report on Friday, December 13th. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 60 ($0.76) target price on shares of Touchstone Exploration in a report on Friday, December 13th. Finally, Shore Capital reissued a “house stock” rating on shares of Touchstone Exploration in a report on Tuesday, January 28th.

Touchstone Exploration Stock Performance

The company has a market capitalization of £76.56 million, a price-to-earnings ratio of -8.70 and a beta of 0.70. The firm has a fifty day moving average price of GBX 24.41 and a 200-day moving average price of GBX 29.27.

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.