Headwater Exploration (TSE:HWX) Shares Cross Below 200 Day Moving Average – Time to Sell?

Shares of Headwater Exploration Inc. (TSE:HWX) passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$12.88 and traded as low as C$11.79. Headwater Exploration shares last traded at C$11.80, with a volume of 1,454,158 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on HWX shares. Desjardins set a C$14.50 target price on Headwater Exploration and gave the company a “hold” rating in a research note on Friday, July 17th. Royal Bank Of Canada raised their price target on shares of Headwater Exploration from C$14.00 to C$15.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Headwater Exploration currently has an average rating of “Moderate Buy” and an average target price of C$12.75.

Headwater Exploration Trading Down 9.0%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 1.07. The stock has a market cap of C$2.81 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. The company’s 50-day moving average price is C$14.00 and its 200 day moving average price is C$12.88.

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.