Headwater Exploration (TSE:HWX) Sets New 52-Week High – Still a Buy?

Headwater Exploration Inc. (TSE:HWX)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as C$9.75 and last traded at C$9.71, with a volume of 283628 shares trading hands. The stock had previously closed at C$9.41.

Analyst Ratings Changes

Several brokerages have recently weighed in on HWX. CIBC upped their target price on Headwater Exploration from C$8.50 to C$10.00 in a research report on Wednesday, October 15th. Desjardins increased their price objective on shares of Headwater Exploration from C$8.75 to C$9.50 and gave the company a “hold” rating in a research report on Thursday, December 4th. Raymond James Financial lowered shares of Headwater Exploration from a “moderate buy” rating to a “hold” rating and lifted their price objective for the company from C$9.00 to C$9.50 in a research note on Tuesday, December 9th. ATB Capital upped their target price on shares of Headwater Exploration from C$8.75 to C$11.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Finally, National Bankshares raised their price target on shares of Headwater Exploration from C$9.00 to C$10.50 and gave the company an “outperform” rating in a report on Friday, December 5th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$10.10.

Headwater Exploration Price Performance

The company has a market cap of C$2.34 billion, a P/E ratio of 13.44, a P/E/G ratio of 0.83 and a beta of 0.56. The company’s 50-day moving average price is C$8.87 and its two-hundred day moving average price is C$7.74. The company has a current ratio of 1.54, a quick ratio of 2.07 and a debt-to-equity ratio of 0.12.

Headwater Exploration (TSE:HWX) last posted its quarterly earnings results on Wednesday, October 29th. The company reported C$0.15 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. As a group, sell-side analysts expect that Headwater Exploration Inc. will post 0.6296296 earnings per share 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.