Headwater Exploration (TSE:HWX) Reaches New 52-Week High – Time to Buy?

Headwater Exploration Inc. (TSE:HWX)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$13.82 and last traded at C$13.70, with a volume of 166319 shares traded. The stock had previously closed at C$13.60.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. National Bank Financial lifted their price objective on Headwater Exploration from C$11.50 to C$13.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Desjardins lifted their price objective on Headwater Exploration from C$11.00 to C$11.75 and gave the stock a “hold” rating in a research report on Friday, March 6th. BMO Capital Markets lifted their price objective 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. Finally, Royal Bank Of Canada lifted their price objective on Headwater Exploration from C$11.00 to C$13.00 and gave the stock a “sector perform” rating in a research report on Monday, March 9th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$11.68.

Headwater Exploration Price Performance

The company’s 50 day moving average price is C$12.65 and its 200-day moving average price is C$10.88. The company has a market capitalization of C$3.17 billion, a PE ratio of 23.02, a PEG ratio of 0.83 and a beta of 0.49. The company has a current ratio of 0.98, a quick ratio of 2.07 and a debt-to-equity ratio of 0.27.

Headwater Exploration (TSE:HWX) last announced its quarterly earnings data on Thursday, March 5th. The company reported C$0.12 earnings per share (EPS) for the quarter. Headwater Exploration had a net margin of 24.12% and a return on equity of 18.54%. The company had revenue of C$133.81 million during the quarter. On average, sell-side analysts forecast that Headwater Exploration Inc. will post 0.6296296 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Headwater Exploration news, Director Karen Nielsen purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of C$12.90 per share, with a total value of C$25,800.00. Following the transaction, the director owned 2,000 shares in the company, valued at approximately C$25,800. This trade represents a ∞ increase in their ownership of the stock. Also, Director Kevin Olson sold 100,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of C$13.32, for a total transaction of C$1,332,000.00. Following the sale, the director directly owned 2,820,179 shares of the company’s stock, valued at approximately C$37,564,784.28. This trade represents a 3.42% decrease in their ownership of the stock. 5.08% of the stock is currently owned by corporate insiders.

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.