Arrow Exploration (LON:AXL) Trading 2% Higher – Still a Buy?

Shares of Arrow Exploration Corp. (LON:AXL) traded up 2% during mid-day trading on Wednesday . The company traded as high as GBX 25.68 and last traded at GBX 25.50. Approximately 698,945 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 942,399 shares. The stock had previously closed at GBX 25.

Analysts Set New Price Targets

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

Arrow Exploration Stock Up 0.9%

The stock has a market cap of £72.82 million, a price-to-earnings ratio of 25.48 and a beta of 1.51. The business has a fifty day moving average of GBX 25.22 and a 200 day moving average of GBX 20.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.16 and a quick ratio of 1.65.

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.