Touchstone Exploration (LON:TXP) Sets New 1-Year Low – Should You Sell?

Touchstone Exploration Inc. (LON:TXP) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as GBX 18 ($0.24) and last traded at GBX 18.15 ($0.24), with a volume of 2802969 shares traded. The stock had previously closed at GBX 19 ($0.25).

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 60 ($0.80) target price on shares of Touchstone Exploration in a research note on Thursday, March 20th. Shore Capital reaffirmed a “house stock” rating on shares of Touchstone Exploration in a research note on Thursday, May 8th.

Touchstone Exploration Stock Down 4.5%

The company has a market cap of £53.44 million, a PE ratio of -6.07 and a beta of 0.70. The firm has a 50 day simple moving average of GBX 20.85 and a 200-day simple moving average of GBX 24.23.

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.