Headwater Exploration (TSE:HWX) Reaches New 1-Year High After Analyst Upgrade

Headwater Exploration Inc. (TSE:HWX)’s share price reached a new 52-week high on Monday after Royal Bank Of Canada raised their price target on the stock from C$10.00 to C$11.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Headwater Exploration traded as high as C$10.58 and last traded at C$10.56, with a volume of 140378 shares traded. The stock had previously closed at C$10.37.

A number of other analysts have also recently commented on HWX. Desjardins lifted their target price 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. Raymond James Financial downgraded Headwater Exploration from a “moderate buy” rating to a “hold” rating and upped their target price for the company from C$9.00 to C$9.50 in a research report on Tuesday, December 9th. National Bankshares lifted their price target on Headwater Exploration from C$9.00 to C$10.50 and gave the stock an “outperform” rating in a research report on Friday, December 5th. ATB Capital raised 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. Finally, CIBC upped their target price on Headwater Exploration from C$8.50 to C$10.00 in a research report on Wednesday, October 15th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$10.25.

Headwater Exploration Stock Down 0.3%

The business’s fifty day simple moving average is C$9.17 and its two-hundred day simple moving average is C$7.89. The company has a market cap of C$2.50 billion, a PE ratio of 14.36, a PEG ratio of 0.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07.

Headwater Exploration (TSE:HWX) last posted its earnings results on Wednesday, October 29th. The company reported C$0.15 earnings per share (EPS) for the quarter. The business had revenue of C$178.70 million for the quarter. Headwater Exploration had a net margin of 35.52% and a return on equity of 28.63%. On average, analysts predict that Headwater Exploration Inc. will post 0.6296296 earnings per share for the current year.

About Headwater Exploration

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.