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

Touchstone Exploration Inc. (LON:TXP)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as GBX 20.25 ($0.26) and last traded at GBX 20.86 ($0.27), with a volume of 172007 shares changing hands. The stock had previously closed at GBX 21.50 ($0.28).

Analyst Upgrades and Downgrades

Several brokerages recently commented on TXP. Shore Capital reissued a “house stock” rating on shares of Touchstone Exploration in a research note on Thursday, March 20th. Canaccord Genuity Group restated a “buy” rating and set a GBX 60 ($0.78) price target on shares of Touchstone Exploration in a research note on Thursday, March 20th. Finally, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 60 ($0.78) price objective on shares of Touchstone Exploration in a research note on Friday, December 13th.

Touchstone Exploration Stock Performance

The stock has a 50 day moving average of GBX 22.97 and a two-hundred day moving average of GBX 27.08. The firm has a market capitalization of £61.42 million, a P/E ratio of -6.98 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.