Desjardins Issues Positive Forecast for Headwater Exploration (TSE:HWX) Stock Price

Headwater Exploration (TSE:HWX) had its price objective increased by equities research analysts at Desjardins from C$8.00 to C$8.75 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ price target would indicate a potential downside of 1.02% from the company’s previous close.

Separately, CIBC boosted their price target on Headwater Exploration from C$8.50 to C$10.00 in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Headwater Exploration currently has an average rating of “Buy” and a consensus target price of C$9.25.

Headwater Exploration Stock Up 2.1%

Shares of HWX traded up C$0.18 during midday trading on Monday, hitting C$8.84. The stock had a trading volume of 403,506 shares, compared to its average volume of 665,867. The firm has a market cap of C$2.11 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 0.83 and a beta of 0.41. The company has a 50 day simple moving average of C$7.62 and a two-hundred day simple moving average of C$7.08. Headwater Exploration has a twelve month low of C$4.75 and a twelve month high of C$9.15. 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 quarterly earnings data on Wednesday, October 29th. The company reported C$0.15 earnings per share (EPS) for the quarter. Headwater Exploration had a return on equity of 28.63% and a net margin of 35.52%.The business had revenue of C$178.70 million during the quarter. On average, analysts anticipate that Headwater Exploration will post 0.6296296 EPS 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.