Touchstone Exploration’s (TXP) Speculative Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group restated their speculative buy rating on shares of Touchstone Exploration (LON:TXP) in a report issued on Thursday morning, MarketBeat Ratings reports. They currently have a GBX 60 ($0.77) target price on the stock.

TXP has been the subject of several other reports. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 60 ($0.77) price objective on shares of Touchstone Exploration in a report on Friday, December 13th. Shore Capital reissued a “house stock” rating on shares of Touchstone Exploration in a research note on Tuesday, January 28th.

Touchstone Exploration Stock Performance

Shares of LON:TXP opened at GBX 21.85 ($0.28) on Thursday. Touchstone Exploration has a 52 week low of GBX 20.63 ($0.27) and a 52 week high of GBX 54 ($0.70). The company’s fifty day moving average is GBX 24.59 and its 200-day moving average is GBX 28.51. The company has a market capitalization of £64.34 million, a PE ratio of -7.31 and a beta of 0.70.

Touchstone Exploration Company Profile

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.