Headwater Exploration (TSE:HWX) Hits New 12-Month High – Still a Buy?

Headwater Exploration Inc. (TSE:HWX)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$13.56 and last traded at C$13.22, with a volume of 186147 shares traded. The stock had previously closed at C$13.19.

Wall Street Analyst Weigh In

HWX has been the subject of several research analyst reports. National Bank Financial upped their price objective on shares of Headwater Exploration from C$11.50 to C$13.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. BMO Capital Markets lifted their target price on Headwater Exploration from C$11.00 to C$13.50 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Raymond James Financial downgraded Headwater Exploration from a “moderate buy” rating to a “hold” rating and boosted their target price for the company from C$9.00 to C$9.50 in a report on Tuesday, December 9th. Royal Bank Of Canada upped their target price on Headwater Exploration from C$11.00 to C$13.00 and gave the company a “sector perform” rating in a research report on Monday, March 9th. Finally, Desjardins raised their price target 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. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$11.68.

Headwater Exploration Stock Down 1.1%

The business has a 50-day simple moving average of C$12.04 and a two-hundred day simple moving average of C$9.68. The company has a market capitalization of C$3.06 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 0.83 and a beta of 0.51. The company has a debt-to-equity ratio of 1.88, a quick ratio of 2.07 and a current ratio of 1.23.

Headwater Exploration Company Profile

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.