Headwater Exploration Inc. (TSE:HWX) Receives C$11.68 Average Price Target from Brokerages

Shares of Headwater Exploration Inc. (TSE:HWX) have been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$11.68.

Several research analysts have recently commented on HWX shares. Raymond James Financial downgraded Headwater Exploration from a “moderate buy” rating to a “hold” rating and raised their price objective for the stock from C$9.00 to C$9.50 in a research note on Tuesday, December 9th. Royal Bank Of Canada raised their price objective on Headwater Exploration from C$11.00 to C$13.00 and gave the stock a “sector perform” rating in a research note on Monday, March 9th. BMO Capital Markets raised their price objective on Headwater Exploration from C$11.00 to C$13.50 and gave the stock an “outperform” rating in a research note on Friday, March 6th. National Bank Financial raised their price objective on Headwater Exploration from C$11.50 to C$13.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Finally, Desjardins raised their price objective on Headwater Exploration from C$11.00 to C$11.75 and gave the stock a “hold” rating in a research note on Friday, March 6th.

Headwater Exploration Trading Up 1.0%

Shares of TSE:HWX opened at C$12.61 on Tuesday. The stock has a market capitalization of C$3.00 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 0.83 and a beta of 0.44. The company has a debt-to-equity ratio of 1.88, a quick ratio of 2.07 and a current ratio of 1.23. The stock’s 50-day simple moving average is C$12.16 and its two-hundred day simple moving average is C$9.81. Headwater Exploration has a 52-week low of C$4.75 and a 52-week high of C$13.56.

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.