Arrow Exploration (LON:AXL) Sets New 52-Week High – Here’s Why

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

Analyst Ratings Changes

Separately, Canaccord Genuity Group boosted their price objective on shares of Arrow Exploration from GBX 27 to GBX 30 and gave the stock a “speculative buy” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of GBX 30.

Arrow Exploration Price Performance

The firm’s fifty day moving average price is GBX 22.35 and its 200 day moving average price is GBX 17.58. The firm has a market capitalization of £84.90 million, a PE ratio of 33.07 and a beta of 1.51. The company has a current ratio of 1.16, a quick ratio of 1.65 and a debt-to-equity ratio of 0.25.

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.