Headwater Exploration (TSE:HWX) Hits New 52-Week High – Here’s What Happened

Headwater Exploration Inc. (TSE:HWX) shares reached a new 52-week high on Monday . The stock traded as high as C$10.58 and last traded at C$10.56, with a volume of 140378 shares traded. The stock had previously closed at C$10.37.

Analysts Set New Price Targets

Several brokerages have weighed in on HWX. National Bankshares upped their price objective on shares of Headwater Exploration from C$9.00 to C$10.50 and gave the stock an “outperform” rating in a research note on Friday, December 5th. Desjardins lifted their price objective on 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. CIBC boosted their price objective on Headwater Exploration from C$8.50 to C$10.00 in a research note on Wednesday, October 15th. ATB Capital raised their target price 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. Finally, Raymond James Financial cut Headwater Exploration from a “moderate buy” rating to a “hold” rating and lifted their price target for the company from C$9.00 to C$9.50 in a report on Tuesday, December 9th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$10.10.

Headwater Exploration Price Performance

The firm has a market capitalization of C$2.52 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 0.83 and a beta of 0.56. The company has a quick ratio of 2.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.12. The company’s fifty day moving average is C$9.07 and its two-hundred day moving average is C$7.83.

Headwater Exploration (TSE:HWX) last announced its quarterly earnings data on Wednesday, October 29th. The company reported C$0.15 EPS for the quarter. Headwater Exploration had a return on equity of 28.63% and a net margin of 35.52%.The business had revenue of C$178.70 million during the quarter. Equities research analysts anticipate that Headwater Exploration Inc. will post 0.6296296 earnings per share for the current fiscal year.

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.