Headwater Exploration (TSE:HWX) Trading 5.4% Higher – What’s Next?

Shares of Headwater Exploration Inc. (TSE:HWX) rose 5.4% during trading on Thursday . The stock traded as high as C$12.64 and last traded at C$12.63. Approximately 65,312 shares traded hands during trading, a decline of 94% from the average daily volume of 1,061,213 shares. The stock had previously closed at C$11.98.

Analyst Upgrades and Downgrades

HWX has been the subject of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of Headwater Exploration from C$11.00 to C$13.50 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Royal Bank Of Canada raised their target price on shares of Headwater Exploration from C$11.00 to C$13.00 and gave the company a “sector perform” rating in a research note on Monday, March 9th. ATB Cormark Capital Markets lifted their target price on shares of Headwater Exploration from C$8.75 to C$11.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. National Bank Financial upped their price target on shares of Headwater Exploration from C$11.50 to C$13.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Finally, Raymond James Financial downgraded Headwater Exploration from a “moderate buy” rating to a “hold” rating and raised their price target for the company from C$9.00 to C$9.50 in a research report on Tuesday, December 9th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$11.68.

Headwater Exploration Stock Performance

The firm’s 50 day moving average price is C$12.06 and its 200-day moving average price is C$9.69. The firm has a market cap of C$2.96 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 0.83 and a beta of 0.51. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.23 and a quick ratio of 2.07.

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.