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

Headwater Exploration Inc. (TSE:HWX)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$8.27 and last traded at C$8.22, with a volume of 108259 shares traded. The stock had previously closed at C$8.15.

Analyst Ratings Changes

Separately, CIBC lifted their target price on Headwater Exploration from C$8.50 to C$10.00 in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$8.67.

Headwater Exploration Price Performance

The stock has a market capitalization of C$2.05 billion, a P/E ratio of 11.78, a PEG ratio of 0.83 and a beta of 0.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.07 and a current ratio of 1.54. The business has a fifty day simple moving average of C$7.52 and a 200-day simple moving average of C$7.02.

Headwater Exploration (TSE:HWX) last released its earnings results on Wednesday, October 29th. The company reported C$0.15 earnings per share (EPS) for the quarter. The company had revenue of C$178.70 million for the quarter. Headwater Exploration had a net margin of 35.52% and a return on equity of 28.63%. Sell-side analysts expect that Headwater Exploration Inc. will post 0.6296296 earnings per share for the current fiscal 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.