Desjardins Reiterates C$14.50 Price Target for Headwater Exploration (TSE:HWX)

Headwater Exploration (TSE:HWX) received a C$14.50 price objective from stock analysts at Desjardins in a report issued on Friday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ price objective would suggest a potential upside of 13.64% from the company’s current price.

Headwater Exploration Stock Up 1.5%

HWX stock traded up C$0.19 during mid-day trading on Friday, hitting C$12.76. 212,795 shares of the company were exchanged, compared to its average volume of 822,163. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.07 and a current ratio of 0.98. Headwater Exploration has a 1-year low of C$6.58 and a 1-year high of C$13.82. The firm’s 50 day simple moving average is C$12.59 and its 200 day simple moving average is C$12.01. The firm has a market cap of C$3.03 billion, a P/E ratio of 22.00, a P/E/G ratio of 0.83 and a beta of 0.61.

Headwater Exploration (TSE:HWX) last issued its quarterly earnings data on Thursday, March 5th. The company reported C$0.12 earnings per share (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. On average, sell-side analysts predict that Headwater Exploration will post 0.6296296 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kevin Olson sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of C$13.32, for a total transaction of C$1,332,000.00. Following the completion of the transaction, 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 position. Also, Director Karen Nielsen acquired 6,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was acquired at an average price of C$12.90 per share, for a total transaction of C$77,400.00. Following the completion of the acquisition, the director directly owned 6,000 shares of the company’s stock, valued at C$77,400. The trade was a ? increase in their ownership of the stock. Corporate insiders own 5.08% of the company’s stock.

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.