Touchstone Exploration (LON:TXP) Stock Price Down 0.9% – Here’s Why

Touchstone Exploration Inc. (LON:TXP) dropped 0.9% during trading on Thursday . The company traded as low as GBX 8 and last traded at GBX 8.18. Approximately 165,630 shares were traded during trading, a decline of 80% from the average daily volume of 811,402 shares. The stock had previously closed at GBX 8.25.

Wall Street Analyst Weigh In

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

Touchstone Exploration Trading Down 3.0%

The stock has a market capitalization of £35.29 million, a P/E ratio of 2.00 and a beta of 0.00. The business’s fifty day simple moving average is GBX 7.76 and its two-hundred day simple moving average is GBX 8.24.

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.