Headwater Exploration (TSE:HWX) Reaches New 12-Month High – Still a Buy?

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

Analyst Ratings Changes

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

Headwater Exploration Stock Down 0.3%

The business’s fifty day moving average price is C$12.49 and its 200 day moving average price is C$10.38. The company has a quick ratio of 2.07, a current ratio of 1.23 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of C$3.19 billion, a PE ratio of 20.97, a PEG ratio of 0.83 and a beta of 0.44.

Headwater Exploration (TSE:HWX) last announced its earnings results on Thursday, March 5th. The company reported C$0.12 EPS for the quarter. The business had revenue of C$133.81 million during the quarter. Headwater Exploration had a net margin of 26.93% and a return on equity of 20.71%. On average, equities research analysts forecast 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.