Desjardins Forecasts Strong Price Appreciation for Headwater Exploration (TSE:HWX) Stock

Headwater Exploration (TSE:HWX) had its price target lifted by stock analysts at Desjardins from C$11.00 to C$11.75 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ price objective points to a potential downside of 4.55% from the company’s previous close.

A number of other brokerages also recently issued reports on HWX. National Bank Financial increased their price objective on shares of Headwater Exploration from C$10.50 to C$11.50 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. ATB Cormark Capital Markets raised their target price on Headwater Exploration from C$8.75 to C$11.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Raymond James Financial cut Headwater Exploration from a “moderate buy” rating to a “hold” rating and boosted their price target for the stock from C$9.00 to C$9.50 in a report on Tuesday, December 9th. Finally, Royal Bank Of Canada raised their price objective on Headwater Exploration from C$10.00 to C$11.00 and gave the company a “sector perform” rating in a research note on Monday, January 19th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Headwater Exploration currently has an average rating of “Moderate Buy” and an average price target of C$11.39.

Headwater Exploration Price Performance

TSE HWX traded down C$0.17 during midday trading on Friday, hitting C$12.31. The company had a trading volume of 924,814 shares, compared to its average volume of 871,715. The firm has a 50-day moving average price of C$10.91 and a 200-day moving average price of C$8.90. The company has a market capitalization of C$2.94 billion, a PE ratio of 16.86, a P/E/G ratio of 0.83 and a beta of 0.51. The company has a current ratio of 1.32, a quick ratio of 2.07 and a debt-to-equity ratio of 1.83. Headwater Exploration has a twelve month low of C$4.75 and a twelve month high of C$13.29.

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.