Touchstone Exploration (LON:TXP) Stock Price Up 7.5% – Here’s Why

Shares of Touchstone Exploration Inc. (LON:TXP) were up 7.5% on Thursday. The stock traded as high as GBX 11.18 and last traded at GBX 10.75. 1,337,188 shares traded hands during trading, an increase of 78% from the average session volume of 752,789 shares. The stock had previously closed at GBX 10.

Analyst Ratings Changes

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

Touchstone Exploration Stock Up 7.5%

The firm has a market cap of £47.42 million, a price-to-earnings ratio of 2.69 and a beta of 0.00. The business has a 50 day moving average price of GBX 8.74 and a 200-day moving average price of GBX 8.56.

Touchstone Exploration Company Profile

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.