Arrow Exploration (LON:AXL) Sets New 12-Month High – Still a Buy?

Arrow Exploration Corp. (LON:AXL) shares reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 23.50 and last traded at GBX 23.90, with a volume of 4028255 shares trading hands. The stock had previously closed at GBX 21.25.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their price objective on Arrow Exploration from GBX 22 to GBX 28 and gave the stock a “speculative buy” rating in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of GBX 28.

Arrow Exploration Trading Up 12.5%

The company has a current ratio of 1.01, a quick ratio of 1.65 and a debt-to-equity ratio of 0.34. The company has a market cap of £68.32 million, a P/E ratio of 7.97 and a beta of 1.51. The business has a 50 day moving average price of GBX 18.54 and a 200-day moving average price of GBX 14.46.

Arrow Exploration Company Profile

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.