Headwater Exploration (TSE:HWX) Hits New 1-Year High – Should You Buy?

Headwater Exploration Inc. (TSE:HWX)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$10.58 and last traded at C$10.56, with a volume of 140378 shares changing hands. The stock had previously closed at C$10.37.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HWX shares. CIBC boosted their target price on shares of Headwater Exploration from C$8.50 to C$10.00 in a research note on Wednesday, October 15th. National Bankshares raised their price objective on Headwater Exploration from C$9.00 to C$10.50 and gave the company an “outperform” rating in a report on Friday, December 5th. Raymond James Financial cut Headwater Exploration from a “moderate buy” rating to a “hold” rating and upped their target price for the stock from C$9.00 to C$9.50 in a report on Tuesday, December 9th. ATB Capital increased their target price on Headwater Exploration from C$8.75 to C$11.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Finally, Desjardins lifted their price target on 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. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Headwater Exploration currently has an average rating of “Moderate Buy” and an average price target of C$10.10.

Headwater Exploration Trading Up 1.9%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07. The company has a market cap of C$2.52 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 0.83 and a beta of 0.56. The business’s fifty day moving average price is C$9.07 and its 200 day moving average price is C$7.83.

Headwater Exploration (TSE:HWX) last announced its earnings results on Wednesday, October 29th. The company reported C$0.15 earnings per share (EPS) for the quarter. The business 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%. Research analysts anticipate 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.