Headwater Exploration (TSE:HWX) Hits New 12-Month High – Should You Buy?

Shares of Headwater Exploration Inc. (TSE:HWX) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$11.66 and last traded at C$11.60, with a volume of 336072 shares trading hands. The stock had previously closed at C$11.48.

Analysts Set New Price Targets

HWX has been the subject of several recent analyst reports. National Bankshares upped their price target on Headwater Exploration from C$10.50 to C$11.50 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Desjardins boosted their price target 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. Canadian Imperial Bank of Commerce increased their target price on Headwater Exploration from C$8.50 to C$10.00 in a report on Wednesday, October 15th. Raymond James Financial cut Headwater Exploration from a “moderate buy” rating to a “hold” rating and boosted their price objective for the stock from C$9.00 to C$9.50 in a report on Tuesday, December 9th. Finally, ATB Capital upped their price target on 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. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$10.42.

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 firm has a market capitalization of C$2.80 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 0.83 and a beta of 0.59. The company’s 50 day moving average is C$9.84 and its 200-day moving average is C$8.27.

Headwater Exploration (TSE:HWX) last posted 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 during the quarter. Headwater Exploration had a net margin of 35.52% and a return on equity of 28.63%. Equities research analysts anticipate that Headwater Exploration Inc. will post 0.6296296 earnings per share for the current year.

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.