ATB Capital Forecasts Strong Price Appreciation for Headwater Exploration (TSE:HWX) Stock

Headwater Exploration (TSE:HWX) had its target price boosted by ATB Capital from C$8.75 to C$11.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Capital’s price objective suggests a potential upside of 13.64% from the stock’s current price.

A number of other research analysts also recently issued reports on HWX. Desjardins upped their price objective on Headwater Exploration from C$8.75 to C$9.50 and gave the company a “hold” rating in a research note on Thursday. CIBC lifted their target price on Headwater Exploration from C$8.50 to C$10.00 in a research note on Wednesday, October 15th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.88.

Headwater Exploration Stock Up 4.3%

TSE:HWX traded up C$0.40 on Thursday, hitting C$9.68. The stock had a trading volume of 466,374 shares, compared to its average volume of 664,430. Headwater Exploration has a 1 year low of C$4.75 and a 1 year high of C$9.70. The firm’s fifty day simple moving average is C$7.83 and its two-hundred day simple moving average is C$7.23. 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 cap of C$2.31 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 0.83 and a beta of 0.41.

Headwater Exploration (TSE:HWX) last released its earnings results on Wednesday, October 29th. The company reported C$0.15 earnings per share (EPS) for the quarter. The company had revenue of C$178.70 million during the quarter. Headwater Exploration had a return on equity of 28.63% and a net margin of 35.52%. Analysts predict that Headwater Exploration will post 0.6296296 earnings per share for the current 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.