Arrow Exploration (LON:AXL) Sets New 1-Year High – Still a Buy?

Arrow Exploration Corp. (LON:AXL)’s share price reached a new 52-week high on Tuesday . The company traded as high as GBX 29.70 and last traded at GBX 28.50, with a volume of 3399643 shares. The stock had previously closed at GBX 24.60.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped their target price on Arrow Exploration from GBX 27 to GBX 30 and gave the stock a “speculative buy” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Arrow Exploration currently has an average rating of “Buy” and an average target price of GBX 30.

Arrow Exploration Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.65 and a current ratio of 1.16. The firm has a fifty day moving average price of GBX 22.04 and a 200 day moving average price of GBX 17.34. The stock has a market cap of £81.47 million, a PE ratio of 33.07 and a beta of 1.51.

About Arrow Exploration

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy SA) is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company’s business plan is to expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins.