Canaccord Genuity Group Cuts Arrow Exploration (LON:AXL) Price Target to GBX 20

Arrow Exploration (LON:AXL) had its price target reduced by Canaccord Genuity Group from GBX 21 to GBX 20 in a research report sent to investors on Wednesday, Marketbeat reports. Canaccord Genuity Group currently has a speculative buy rating on the stock.

Arrow Exploration Stock Performance

Arrow Exploration stock opened at GBX 16.90 on Wednesday. The firm has a fifty day simple moving average of GBX 13.11 and a two-hundred day simple moving average of GBX 13.01. Arrow Exploration has a twelve month low of GBX 10 and a twelve month high of GBX 24. The company has a quick ratio of 1.65, a current ratio of 1.71 and a debt-to-equity ratio of 0.44. The company has a market capitalization of £48.31 million, a PE ratio of 5.63 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.