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

Headwater Exploration Inc. (TSE:HWX) hit a new 52-week high on Wednesday . The company traded as high as C$11.99 and last traded at C$11.92, with a volume of 557316 shares. The stock had previously closed at C$11.47.

Analyst Upgrades and Downgrades

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

Headwater Exploration Stock Performance

The company’s fifty day simple moving average is C$10.16 and its two-hundred day simple moving average is C$8.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.07 and a current ratio of 1.54. The stock has a market capitalization of C$2.84 billion, a P/E ratio of 16.32, a PEG ratio of 0.83 and a beta of 0.59.

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.