Headwater Exploration (TSE:HWX) Trading Up 2.7% – Here’s Why

Headwater Exploration Inc. (TSE:HWX)’s stock price rose 2.7% on Wednesday . The stock traded as high as C$13.60 and last traded at C$13.33. Approximately 395,333 shares changed hands during trading, a decline of 55% from the average daily volume of 887,917 shares. The stock had previously closed at C$12.98.

Analyst Ratings Changes

HWX has been the topic of several recent analyst reports. Desjardins lifted their price objective 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. National Bank Financial lifted their price objective 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. BMO Capital Markets lifted their price objective 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. Finally, Royal Bank Of Canada lifted their price objective 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. Three investment 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, Headwater Exploration presently has an average rating of “Moderate Buy” and a consensus target price of C$11.68.

Headwater Exploration Price Performance

The stock has a market cap of C$3.17 billion, a P/E ratio of 22.98, a PEG ratio of 0.83 and a beta of 0.58. The company has a 50 day simple moving average of C$12.70 and a 200 day simple moving average of C$11.44. The company has a current ratio of 0.98, a quick ratio of 2.07 and a debt-to-equity ratio of 0.27.

Headwater Exploration (TSE:HWX) last released its earnings results on Thursday, March 5th. The company reported C$0.12 EPS for the quarter. The firm had revenue of C$133.81 million for the quarter. Headwater Exploration had a return on equity of 18.54% and a net margin of 24.12%. Sell-side analysts forecast that Headwater Exploration Inc. will post 0.6296296 earnings per share for the current fiscal year.

Insider Activity at Headwater Exploration

In other Headwater Exploration news, Director Kevin Olson sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of C$13.32, for a total value of C$1,332,000.00. Following the sale, the director owned 2,820,179 shares in the company, valued at approximately C$37,564,784.28. The trade was a 3.42% decrease in their position. Also, Director Karen Nielsen bought 2,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of C$12.90 per share, for a total transaction of C$25,800.00. Following the purchase, the director directly owned 2,000 shares in the company, valued at approximately C$25,800. This represents a ∞ increase in their position. Insiders own 5.08% of the company’s stock.

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.