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

Arrow Exploration Corp. (LON:AXL) hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 38 and last traded at GBX 37, with a volume of 925231 shares traded. The stock had previously closed at GBX 37.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised 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 report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of GBX 30.

Arrow Exploration Price Performance

The company has a current ratio of 1.41, a quick ratio of 1.65 and a debt-to-equity ratio of 0.33. The company has a market capitalization of £105.77 million, a P/E ratio of 9.25 and a beta of 1.51. The stock’s fifty day moving average is GBX 28.57 and its 200 day moving average is GBX 25.05.

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.