Touchstone Exploration's (TXP) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Touchstone Exploration (LON:TXP - Free Report) in a research note released on Thursday morning, Marketbeat reports. They currently have a GBX 60 ($0.77) target price on the stock.

A number of other analysts have also recently commented on the company. Shore Capital reissued a "house stock" rating on shares of Touchstone Exploration in a research report on Thursday. Canaccord Genuity Group reissued a "speculative buy" rating and issued a GBX 60 ($0.77) price target on shares of Touchstone Exploration in a research report on Friday, December 13th.

Touchstone Exploration Stock Performance

Shares of TXP traded down GBX 0.54 ($0.01) during mid-day trading on Thursday, reaching GBX 22.46 ($0.29). The company had a trading volume of 653,695 shares, compared to its average volume of 538,400. The firm has a 50-day moving average price of GBX 23.83 and a 200 day moving average price of GBX 27.80. Touchstone Exploration has a 52 week low of GBX 20.28 ($0.26) and a 52 week high of GBX 54 ($0.70). The company has a market capitalization of £66.13 million, a price-to-earnings ratio of -7.52 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.