Touchstone Exploration (LON:TXP) Earns “Speculative Buy” Rating from Canaccord Genuity Group

Touchstone Exploration (LON:TXP)‘s stock had its “speculative buy” rating restated by equities researchers at Canaccord Genuity Group in a research report issued to clients and investors on Wednesday, Marketbeat reports. They presently have a GBX 35 price objective on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 174.73% from the company’s previous close.

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

Touchstone Exploration Price Performance

Shares of LON TXP opened at GBX 12.74 on Wednesday. The stock has a market capitalization of £33.26 million, a P/E ratio of 1,274.00 and a beta of 0.70. The company has a 50-day moving average price of GBX 13.92 and a 200-day moving average price of GBX 17.22. Touchstone Exploration has a 1 year low of GBX 11.20 and a 1 year high of GBX 39.

Insiders Place Their Bets

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

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.