Canaccord Genuity analyst Charlie Sharp maintained a Buy rating on Touchstone Exploration (PBEGF) on January 7 and set a price target of p175.00. The company’s shares closed last Thursday at $2.21, close to its 52-week high of $2.32.
According to TipRanks.com, Sharp is a 5-star analyst with an average return of 23.5% and a 61.6% success rate. Sharp covers the Utilities sector, focusing on stocks such as Orca Exploration Group, Transglobe Energy, and Vaalco Energy.
Currently, the analyst consensus on Touchstone Exploration is a Strong Buy with an average price target of $2.48, representing an 8.6% upside. In a report issued on December 29, Cormark Securities also maintained a Buy rating on the stock with a C$3.75 price target.
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Based on Touchstone Exploration’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.75 million and GAAP net loss of $703K. In comparison, last year the company earned revenue of $8.94 million and had a GAAP net loss of $1.05 million.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PBEGF in relation to earlier this year.
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Touchstone Exploration, Inc. engages in the acquisition, exploration, development, production, and sale of petroleum and natural gas. Its properties include WD-8, Coora, Fyzabad, Icacos, Palo Seco, East Brighton, Barrackpore, San Fancique, New Dome, and Saouth Palo Seco. The company was founded in 1983 and is headquartered in Alberta, Canada.
