Headwater Exploration (TSE:HWX) Hits New 1-Year High – Should You Buy?

Headwater Exploration Inc. (TSE:HWX) hit a new 52-week high on Monday . The company traded as high as C$13.29 and last traded at C$12.96, with a volume of 214148 shares. The stock had previously closed at C$12.56.

Wall Street Analysts Forecast Growth

HWX has been the topic of a number of research reports. National Bank Financial upped their price objective on Headwater Exploration from C$10.50 to C$11.50 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Raymond James Financial downgraded shares of Headwater Exploration from a “moderate buy” rating to a “hold” rating and upped their price target for the company from C$9.00 to C$9.50 in a research note on Tuesday, December 9th. ATB Cormark Capital Markets raised their price target on shares of Headwater Exploration from C$8.75 to C$11.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Royal Bank Of Canada boosted their price objective on shares of Headwater Exploration from C$10.00 to C$11.00 and gave the company a “sector perform” rating in a report on Monday, January 19th. Finally, Desjardins increased their target price 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. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Headwater Exploration presently has a consensus rating of “Hold” and a consensus target price of C$10.42.

Headwater Exploration Stock Up 2.9%

The company has a market capitalization of C$3.09 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 0.83 and a beta of 0.59. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07. The firm’s fifty day moving average price is C$10.66 and its 200-day moving average price is C$8.77.

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.