Arrow Exploration set for upside as well schedule keeps delivering catalysts - analyst
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) shares will be driven higher by its ongoing and regular drill activity, that’s according to analysts at Zeus Capital. The London-based stockbroker has repeated a ‘Buy’ recommendation with a price target pitched at 45p, compared to Arrow’s current market price of around 16.3p. Earlier today, Arrow reported a 36% increase in total oil and gas revenue, reaching US$19.51 million. First quarter earnings (EBITDA) climbed 15% to US$11.53 million, whilst net income amounted to US$2.66 million for the quarter. It comes as the growing oil and gas group continues to develop its fields in Colombia, with new horizontal wells unlocking higher volumes. Production increased to 4,085 barrels of oil equivalent per day (boe/d), up 50% compared to the same period a year ago. Operating cash flow totalled $14.43 million, and the company ended the quarter with $24.95 million in cash, after $11.38 million of capex in the three-month period. Arrow drilled two development wells, AB 2 and AB 3, in the Alberta Llanos field. It also completed a 90 km² seismic survey on the southeast Tapir Block. Post-quarter, Arrow spudded the AB HZ4 horizontal well and entered into a US$20 million prepayment agreement with an integrated energy firm to market its Colombian oil. "The first quarter of 2025 has been exciting for Arrow,” chief executive Marshall Abbott said in a statement. Regular drilling, regular news flow Zeus Capital analyst Daniel Slater, in a note, highlighted that Arrow’s schedule of drilling will provide catalysts for the company to raise its valuation. “Going forward, we look for ongoing execution of the 2025 work programme, and for this to support higher production rates to help underpin our full year forecasts,” Slater said. The analyst added: “These results demonstrate the company’s ability to generate production cash flows to fund its significant ongoing 2025 drilling programme, while also building the balance sheet cash position. “While we will need to see a ramp up in production over the rest of the year in order to make our forecasts, the company is well placed to do this given the increased drilling programme that is planned.” Horizontal development Arrow boss Marshall Abbott today told investors that recent well successes - AB 2 and AB 3 – in the Alberta Llanos field highlighted the potential for horizontal development in the Ubaque reservoir, as well as follow-up zones in the C7 and Guadalupe zones. "During the dry summer months in the Llanos basin, the company has developed a new road system from the Carrizales Norte pad to the Capullo pad, the Mateguafa Oeste pad and the Mateguafa Attic pad,” Abbott said. “These pads will be utilised in the company's planned drilling program for the remainder of 2025. The company has secured a second rig which is expected to spud the first of four wells at RCE in early June." Abbott, meanwhile, highlighted that Arrow retains “very healthy netbacks” on its production, in spite of the oil price volatility seen in global markets through early 2025. He noted that the focus is on growing production, continuing development at the Carrizales Norte, Rio Cravo Este and Alberta Llanos fields. Costco Wholesale Corporation (NASDAQ:COST, ETR:CTO) posted quarterly earnings and revenue that topped Wall Street estimates, as the membership-only warehouse retailer saw its sales jump 8% year-over-year. For the fiscal third quarter which ended on May 11, revenue was $63.2 billion, ahead of the $63.19 billion expected by analysts. Profit for the quarter was $1.9 billion or $4.28 per share, beating estimates of $4.24. Costco does provide an annual outlook, but during its earnings call, CEO Ron Vachris addressed the impact of tariffs. The CEO said the company has proactively managed tariff challenges by accelerating shipments, sourcing more American-made products, and frequently adjusting prices to minimize cost impacts. The company’s tariff exposure is well-managed, analysts at Jefferies believe. “Costco re-confirmed that roughly a third of US sales are imported from other countries, including 8% from China, which drove positive low-single-digit percentage inflation in non-food items,” they wrote. “Management noted rerouting these goods to non-US markets, advancing summer goods, and boosting locally sourced production in the US and Asia, which has lowered member prices by 40% in some regions.” The analysts also highlighted Costco’s efforts to enhance the member experience through technology pilots, such as its expedited checkout technology, ‘Scan-and-Go.’ “Combined with the integration of digital membership cards and improvements in digital wallet usage, management noted improved throughput, evidenced by the immediate positive impact on gas station gallon sales,” analysts wrote. Market share gains ahead Jefferies maintained its 'Buy' rating on Costco following the company’s “strong print” for Q1, noting it is well-positioned for further share gains ahead. “Costco is a defensive name by nature due to its membership model that generates predictable sales and profits, an attractive value orientation, a higher-income customer, and a relatively significant penetration of consumables as a percentage of sales,” they wrote. “Additionally, the company continues to open new clubs in the US, has a meaningful runway for ongoing international expansion, notably China, and recently raised its membership prices.” The analysts have a price target of $1,180 on Costco, reflecting upside of 17% at the time of writing. Shares of Costco moved higher in early trade on Friday, adding 2.7% at about $1,036.
Arrow Exploration set for upside as well schedule keeps delivering catalysts - analyst
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) shares will be driven higher by its ongoing and regular drill activity, that's according to analysts at Zeus Capital. The London-based stockbroker has repeated a ‘Buy' recommendation with a price target pitched at 45p, compared to Arrow's current market price of around 16.3p.
Arrow Exploration grows production and revenue in “exciting” quarter
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) described its first quarter as “exciting” as it reported a 36% increase in total oil and gas revenue, reaching US$19.51 million. First quarter earnings (EBITDA) climbed 15% to US$11.53 million, whilst net income amounted to US$2.66 million for the quarter.
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Arrow Exploration tipped for upside as drill bit keeps turning
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) shares are tipped for substantial upside as its latest results statement showed the success of last year's drill program, which expanded the Colombia-focused firm's production profile. Pitched at 55p, a ‘Buy' recommendation from Zeus Capital implies more than 200% upside to the current price of 15.7p.
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Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) today released results for what it described as its “best year on all fronts”. “We saw substantial growth in production, revenue and EBITDA and our healthy balance sheet supports the aggressive capital program planned for 2025,” said chief executive Marshall Abbott.
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Arrow Exploration highlights production growth but says 2025 capex plan is under review
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) told investors it is currently producing over 4,500 barrels of oil equivalent per day, and it expects to grow output further in the second quarter. Albeit, the company said that amidst the backdrop of global economic and commodity price volatility, it is now reviewing its original $50 million capex plan for 2025 that had slated 23 new wells.
