Touchstone Exploration (LON:TXP) Trading Down 2.5% – Here’s Why

Shares of Touchstone Exploration Inc. (LON:TXP) dropped 2.5% during trading on Wednesday . The company traded as low as GBX 29.55 ($0.38) and last traded at GBX 29.75 ($0.38). Approximately 202,228 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 470,429 shares. The stock had previously closed at GBX 30.50 ($0.39).

Wall Street Analysts Forecast Growth

Separately, Shore Capital restated a “house stock” rating on shares of Touchstone Exploration in a research note on Wednesday, November 13th.

Touchstone Exploration Stock Down 0.9 %

The business’s 50 day simple moving average is GBX 31.76 and its two-hundred day simple moving average is GBX 32.05. The stock has a market cap of £66.79 million, a P/E ratio of -701.25 and a beta of 0.70.

Touchstone Exploration Company Profile

Touchstone Exploration Inc engages in the exploration, development, acquisition, production, and sale of petroleum and natural gas properties in the Republic of Trinidad and Tobago. Its primary exploration focus is the Ortoire exploration block. The company was formerly known as Petrobank Energy and Resources Ltd.