Touchstone Exploration’s (TXP) “Speculative Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their speculative buy rating on shares of Touchstone Exploration (LON:TXP) in a report published on Wednesday, MarketBeat.com reports. The brokerage currently has a GBX 35 price target on the stock.

Separately, Shore Capital restated a “house stock” rating on shares of Touchstone Exploration in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Touchstone Exploration currently has an average rating of “Buy” and a consensus price target of GBX 47.50.

Touchstone Exploration Stock Down 2.7%

TXP opened at GBX 12.40 on Wednesday. Touchstone Exploration has a 12 month low of GBX 11.20 and a 12 month high of GBX 39. The company has a fifty day simple moving average of GBX 13.89 and a 200 day simple moving average of GBX 17.15. The stock has a market cap of £32.38 million, a P/E ratio of 1,240.00 and a beta of 0.70.

Insider Transactions at Touchstone Exploration

In other news, insider Paul R. Baay bought 22,004 shares of the stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average price of GBX 28 per share, for a total transaction of £6,161.12. Company insiders own 3.75% of the company’s stock.

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.