Headwater Exploration (TSE:HWX) Trading 2.7% Higher – Here’s What Happened

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. National Bank Financial raised their price objective on shares of Headwater Exploration from C$11.50 to C$13.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. BMO Capital Markets raised their target price on shares of Headwater Exploration from C$11.00 to C$13.50 and gave the stock an “outperform” rating in a report on Friday, March 6th. Royal Bank Of Canada raised their target price on shares of Headwater Exploration from C$11.00 to C$13.00 and gave the stock a “sector perform” rating in a report on Monday, March 9th. Finally, Desjardins increased their price objective on Headwater Exploration from C$11.00 to C$11.75 and gave the company a “hold” rating in a research report on Friday, March 6th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$11.68.

Headwater Exploration Stock Down 1.9%

The company has a quick ratio of 2.07, a current ratio of 0.98 and a debt-to-equity ratio of 0.27. The company has a market capitalization of C$3.08 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 0.83 and a beta of 0.58. The business’s 50 day simple moving average is C$12.71 and its 200 day simple moving average is C$11.47.

Headwater Exploration (TSE:HWX) last posted its quarterly earnings data on Thursday, March 5th. The company reported C$0.12 EPS for the quarter. Headwater Exploration had a net margin of 24.12% and a return on equity of 18.54%. The company had revenue of C$133.81 million during the quarter. As a group, analysts forecast that Headwater Exploration Inc. will post 0.6296296 EPS for the current year.

Insider Transactions at Headwater Exploration

In other news, Director Karen Nielsen acquired 2,000 shares of Headwater Exploration stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of C$12.90 per share, with a total value of C$25,800.00. Following the completion of the purchase, the director owned 2,000 shares of the company’s stock, valued at C$25,800. This represents a ? increase in their ownership of the stock. Also, Director Kevin Olson sold 100,000 shares of the 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 transaction of C$1,332,000.00. Following the completion of the sale, the director directly owned 2,820,179 shares of the company’s stock, valued at C$37,564,784.28. This trade represents a 3.42% decrease in their ownership of the stock. 5.08% of the stock is currently owned by corporate insiders.

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.