Headwater Exploration (TSE:HWX) Releases Quarterly Earnings Results

Headwater Exploration (TSE:HWX) released its quarterly earnings results on Thursday. The company reported C$0.28 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$227.66 million during the quarter. Headwater Exploration had a return on equity of 24.24% and a net margin of 27.85%.

Headwater Exploration Price Performance

HWX stock traded down C$0.02 during trading on Friday, hitting C$11.95. The stock had a trading volume of 151,362 shares, compared to its average volume of 852,825. Headwater Exploration has a twelve month low of C$7.83 and a twelve month high of C$15.26. The company’s 50-day moving average price is C$13.66 and its two-hundred day moving average price is C$12.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.07 and a quick ratio of 2.07. The stock has a market capitalization of C$2.84 billion, a P/E ratio of 15.32, a PEG ratio of 0.83 and a beta of 0.76.

Analyst Upgrades and Downgrades

HWX has been the subject of a number of recent analyst reports. Royal Bank Of Canada boosted their price objective on Headwater Exploration from C$14.00 to C$15.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. Desjardins set a C$14.50 target price on Headwater Exploration and gave the company a “hold” rating in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$12.75.

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.