Canaccord Genuity Group Issues Positive Forecast for Arrow Exploration (LON:AXL) Stock Price

Arrow Exploration (LON:AXL) had its price target boosted by Canaccord Genuity Group from GBX 23 to GBX 28 in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The firm currently has a speculative buy rating on the stock.

Arrow Exploration Trading Down 2.5%

Shares of LON:AXL opened at GBX 21.45 on Friday. The firm has a fifty day moving average of GBX 17.10 and a two-hundred day moving average of GBX 13.87. The company has a quick ratio of 1.65, a current ratio of 1.01 and a debt-to-equity ratio of 0.34. Arrow Exploration has a 12-month low of GBX 10 and a 12-month high of GBX 22.55. The firm has a market capitalization of £61.32 million, a P/E ratio of 7.15 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.