Touchstone Exploration (LON:TXP) Trading Up 11.2% – Here’s Why

Touchstone Exploration Inc. (LON:TXP) traded up 11.2% on Wednesday . The stock traded as high as GBX 9.45 and last traded at GBX 9.17. Approximately 1,198,316 shares traded hands during trading, an increase of 48% from the average session volume of 807,240 shares. The stock had previously closed at GBX 8.25.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lowered their price objective on Touchstone Exploration from GBX 40 to GBX 32 and set a “speculative buy” rating for the company in a research report on Friday, August 14th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Touchstone Exploration has a consensus rating of “Buy” and a consensus price target of GBX 32.

Touchstone Exploration Price Performance

The company has a market capitalization of £40.45 million, a PE ratio of 2.29 and a beta of 0.00. The company’s 50 day simple moving average is GBX 7.82 and its 200 day simple moving average is GBX 8.21.

About Touchstone Exploration

Touchstone is incorporated under the laws of Alberta, Canada with its head office located in Calgary, Alberta. The Company, through its subsidiaries, is a petroleum and natural gas exploration and production company active in the Republic of Trinidad and Tobago (“Trinidad”). Touchstone is currently one of the largest independent onshore oil and natural gas producers in Trinidad, with assets in several reservoirs that have an extensive internally estimated inventory of petroleum and natural gas development and exploration opportunities.