Headwater Exploration (TSE:HWX) Trading Up 0.6% – Here’s Why

Headwater Exploration Inc. (TSE:HWX)’s share price was up 0.6% on Tuesday . The stock traded as high as C$9.61 and last traded at C$9.50. Approximately 517,051 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 659,393 shares. The stock had previously closed at C$9.44.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HWX. Raymond James Financial lowered 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. National Bankshares lifted their price target on Headwater Exploration from C$9.00 to C$10.50 and gave the company an “outperform” rating in a research report on Friday, December 5th. CIBC boosted their price objective on Headwater Exploration from C$8.50 to C$10.00 in a report on Wednesday, October 15th. Desjardins upped their price objective on shares of Headwater Exploration from C$8.75 to C$9.50 and gave the stock a “hold” rating in a research report on Thursday, December 4th. Finally, ATB Capital lifted 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 report on Thursday, December 4th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$10.10.

Headwater Exploration Price Performance

The company has a current ratio of 1.54, a quick ratio of 2.07 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of C$2.27 billion, a PE ratio of 13.01, a PEG ratio of 0.83 and a beta of 0.62. The business has a fifty day moving average price of C$8.52 and a 200-day moving average price of C$7.60.

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