Touchstone Exploration (LON:TXP) Stock Price Up 12.8% – Here’s Why

Touchstone Exploration Inc. (LON:TXP)’s stock price shot up 12.8% on Friday . The stock traded as high as GBX 11 and last traded at GBX 11. 1,581,753 shares were traded during trading, an increase of 18% from the average session volume of 1,337,504 shares. The stock had previously closed at GBX 9.75.

Touchstone Exploration Stock Performance

The stock’s 50 day simple moving average is GBX 9.63 and its 200-day simple moving average is GBX 9.90. The firm has a market cap of £35.72 million, a price-to-earnings ratio of -11.00 and a beta of 0.12.

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.