Headwater Exploration (TSE:HWX) Sets New 52-Week High – Here’s Why

Shares of Headwater Exploration Inc. (TSE:HWX) reached a new 52-week high on Wednesday . The stock traded as high as C$14.70 and last traded at C$14.59, with a volume of 623271 shares. The stock had previously closed at C$14.46.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HWX shares. Desjardins set a C$14.50 target price on Headwater Exploration and gave the company a “hold” rating in a research note on Friday, July 17th. Royal Bank Of Canada raised their price target on Headwater Exploration from C$14.00 to C$15.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$12.36.

Headwater Exploration Stock Performance

The stock has a market capitalization of C$3.39 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 0.83 and a beta of 0.55. The company has a current ratio of 1.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is C$13.11 and its two-hundred day moving average is C$12.77.

Headwater Exploration (TSE:HWX) last released its quarterly earnings results on Thursday, July 23rd. The company reported C$0.36 earnings per share (EPS) for the quarter. Headwater Exploration had a return on equity of 24.24% and a net margin of 27.85%.The firm had revenue of C$227.67 million for the quarter. Analysts expect that Headwater Exploration Inc. will post 0.6296296 earnings per share for the current fiscal year.

Headwater Exploration Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.4%. Headwater Exploration’s dividend payout ratio (DPR) is presently 57.69%.

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.