Headwater Exploration (TSE:HWX) Trading 5.4% Higher – Here’s What Happened

Shares of Headwater Exploration Inc. (TSE:HWX) were up 5.4% during trading on Thursday . The stock traded as high as C$12.64 and last traded at C$12.63. Approximately 65,312 shares traded hands during trading, a decline of 94% from the average daily volume of 1,061,213 shares. The stock had previously closed at C$11.98.

Analysts Set New Price Targets

HWX has been the topic of several research reports. National Bank Financial upped 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 note on Friday, March 6th. Raymond James Financial lowered shares of Headwater Exploration from a “moderate buy” rating to a “hold” rating and lifted their target price for the company from C$9.00 to C$9.50 in a research note on Tuesday, December 9th. Desjardins boosted their price target on shares of Headwater Exploration from C$11.00 to C$11.75 and gave the company a “hold” rating in a report on Friday, March 6th. BMO Capital Markets upped their price target on shares of Headwater Exploration from C$11.00 to C$13.50 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Finally, Royal Bank Of Canada increased their price objective on 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. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$11.68.

Headwater Exploration Stock Performance

The company has a quick ratio of 2.07, a current ratio of 1.23 and a debt-to-equity ratio of 1.88. The stock has a market cap of C$2.97 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 0.83 and a beta of 0.51. The firm’s 50-day moving average is C$12.13 and its two-hundred day moving average is C$9.75.

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.