Headwater Exploration (TSE:HWX) Downgraded by Raymond James Financial to Market Perform

Headwater Exploration (TSE:HWX) was downgraded by analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday,BayStreet.CA reports. They currently have a C$9.50 price target on the stock, up from their previous price target of C$9.00. Raymond James Financial’s price objective indicates a potential upside of 3.71% from the company’s current price.

Several other research analysts also recently commented on HWX. Desjardins raised their price target on shares of Headwater Exploration from C$8.75 to C$9.50 and gave the stock a “hold” rating in a research note on Thursday, December 4th. National Bankshares raised their target price on shares of Headwater Exploration from C$9.00 to C$10.50 and gave the stock an “outperform” rating in a research report on Friday. CIBC boosted their price target on Headwater Exploration from C$8.50 to C$10.00 in a report on Wednesday, October 15th. Finally, ATB Capital increased their price objective on Headwater Exploration from C$8.75 to C$11.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Headwater Exploration has an average rating of “Moderate Buy” and a consensus target price of C$10.10.

Headwater Exploration Trading Down 2.2%

Shares of HWX stock traded down C$0.21 during trading hours on Tuesday, reaching C$9.16. 275,977 shares of the stock were exchanged, compared to its average volume of 662,553. The firm has a market capitalization of C$2.19 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62. Headwater Exploration has a 12-month low of C$4.75 and a 12-month high of C$9.70. The company’s 50-day moving average price is C$7.93 and its 200-day moving average price is C$7.30. The company has a current ratio of 1.54, a quick ratio of 2.07 and a debt-to-equity ratio of 0.12.

Headwater Exploration (TSE:HWX) last issued its quarterly earnings results on Wednesday, October 29th. The company reported C$0.15 earnings per share (EPS) for the quarter. The firm had revenue of C$178.70 million during the quarter. Headwater Exploration had a return on equity of 28.63% and a net margin of 35.52%. As a group, equities analysts anticipate that Headwater Exploration will post 0.6296296 earnings per share for the current year.

Headwater Exploration Company Profile

Headwater Exploration Inc is an oil and gas exploration and development company. It is engaged in the exploration, development, and production of petroleum and natural gas onshore in McCully Field, New Brunswick and Marten Hills, Alberta. The firm generates substantial revenue from the sale of commodities which include crude oil, natural gas and natural gas liquids.