Headwater Exploration (TSE:HWX) Sets New 52-Week High – Here’s Why

Headwater Exploration Inc. (TSE:HWX) hit a new 52-week high during trading on Monday. The company traded as high as C$14.76 and last traded at C$14.73, with a volume of 34,618 shares changing hands. The stock had previously closed at C$14.67.

Analyst Ratings Changes

Several equities analysts recently weighed in on HWX shares. Desjardins set a C$14.50 price target on shares of Headwater Exploration and gave the stock a “hold” rating in a report on Friday, July 17th. Royal Bank Of Canada lifted their price objective on shares of Headwater Exploration from C$14.00 to C$15.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Headwater Exploration presently has an average rating of “Moderate Buy” and an average price target of C$12.75.

Headwater Exploration Price Performance

The firm has a 50-day simple moving average of C$13.86 and a two-hundred day simple moving average of C$13.07. The company has a market capitalization of C$3.47 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 0.83 and a beta of 0.65. The company has a current ratio of 1.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22.

Headwater Exploration (TSE:HWX) last released its quarterly earnings data on Thursday, July 23rd. The company reported C$0.36 earnings per share for the quarter. The business had revenue of C$227.67 million during the quarter. Headwater Exploration had a return on equity of 24.24% and a net margin of 27.85%. As a group, analysts predict that Headwater Exploration Inc. will post 0.63 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.