Touchstone Exploration (LON:TXP) Shares Climb 7.5% – Still a Buy?

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

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced 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 research analyst has rated the stock with a Buy rating. According to MarketBeat, Touchstone Exploration currently has a consensus rating of “Buy” and a consensus target price of GBX 32.

Touchstone Exploration Stock Performance

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 firm’s 50 day moving average is GBX 8.74 and its 200-day moving average is 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.