Touchstone Exploration (LON:TXP) Hits New 52-Week Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

TXP has been the subject of a number of research reports. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 60 ($0.77) price target on shares of Touchstone Exploration in a research report on Friday, December 13th. Shore Capital reiterated a “house stock” rating on shares of Touchstone Exploration in a report on Thursday, March 20th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a GBX 60 ($0.77) price target on shares of Touchstone Exploration in a report on Thursday, March 20th.

Touchstone Exploration Price Performance

The firm has a 50-day simple moving average of GBX 22.51 and a 200 day simple moving average of GBX 26.64. The company has a market capitalization of £58.89 million, a PE ratio of -6.69 and a beta of 0.70.

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.