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

Headwater Exploration Inc. (TSE:HWX) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$13.58 and last traded at C$13.51, with a volume of 32235 shares changing hands. The stock had previously closed at C$13.24.

Analyst Ratings Changes

HWX has been the topic of a number of research analyst reports. Desjardins raised their target price on Headwater Exploration from C$11.00 to C$11.75 and gave the company a “hold” rating in a report on Friday, March 6th. BMO Capital Markets raised their target price on Headwater Exploration from C$11.00 to C$13.50 and gave the company an “outperform” rating in a report on Friday, March 6th. Royal Bank Of Canada raised their target price on Headwater Exploration from C$11.00 to C$13.00 and gave the company a “sector perform” rating in a report on Monday, March 9th. Finally, National Bank Financial raised their target price on Headwater Exploration from C$11.50 to C$13.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$11.68.

Headwater Exploration Price Performance

The stock has a market cap of C$3.18 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 0.83 and a beta of 0.44. The stock has a fifty day simple moving average of C$12.43 and a 200-day simple moving average of C$10.34. The company has a current ratio of 1.23, a quick ratio of 2.07 and a debt-to-equity ratio of 1.88.

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.