Headwater Exploration (TSE:HWX) Hits New 1-Year High – What’s Next?

Shares of Headwater Exploration Inc. (TSE:HWX) hit a new 52-week high during trading on Tuesday . The company traded as high as C$12.22 and last traded at C$12.05, with a volume of 879373 shares trading hands. The stock had previously closed at C$11.97.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HWX. Desjardins boosted their price objective on shares of Headwater Exploration from C$8.75 to C$9.50 and gave the company a “hold” rating in a report on Thursday, December 4th. National Bank Financial lifted their price target on shares of Headwater Exploration from C$10.50 to C$11.50 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. ATB Cormark Capital Markets upped their price objective on shares of 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. Raymond James Financial lowered Headwater Exploration from a “moderate buy” rating to a “hold” rating and lifted their target price for the stock from C$9.00 to C$9.50 in a report on Tuesday, December 9th. Finally, Royal Bank Of Canada increased their price target on Headwater Exploration from C$10.00 to C$11.00 and gave the stock a “sector perform” rating in a report on Monday, January 19th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Headwater Exploration has a consensus rating of “Hold” and an average price target of C$10.42.

Headwater Exploration Price Performance

The company has a current ratio of 1.54, a quick ratio of 2.07 and a debt-to-equity ratio of 0.12. The stock has a market cap of C$2.87 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 0.83 and a beta of 0.59. The company has a 50 day simple moving average of C$10.52 and a 200-day simple moving average of C$8.68.

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.