Headwater Exploration (TSE:HWX) Reaches New 1-Year High – Should You Buy?

Headwater Exploration Inc. (TSE:HWX)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$11.16 and last traded at C$11.04, with a volume of 91985 shares changing hands. The stock had previously closed at C$10.95.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HWX shares. ATB Capital lifted 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 report on Thursday, December 4th. Desjardins lifted their target price on Headwater Exploration from C$8.75 to C$9.50 and gave the stock a “hold” rating in a research report on Thursday, December 4th. Raymond James Financial downgraded shares of Headwater Exploration from a “moderate buy” rating to a “hold” rating and boosted their price objective for the stock from C$9.00 to C$9.50 in a report on Tuesday, December 9th. CIBC lifted their price target on shares of Headwater Exploration from C$8.50 to C$10.00 in a report on Wednesday, October 15th. Finally, National Bankshares boosted their price objective on Headwater Exploration from C$9.00 to C$10.50 and gave the stock an “outperform” rating in a research note on Friday, December 5th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$10.25.

Headwater Exploration Price Performance

The firm has a market capitalization of C$2.64 billion, a P/E ratio of 15.14, a P/E/G ratio of 0.83 and a beta of 0.56. The stock has a 50 day moving average of C$9.39 and a two-hundred day moving average of C$8.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.07 and a current ratio of 1.54.

Headwater Exploration (TSE:HWX) last released its quarterly earnings data on Wednesday, October 29th. The company reported C$0.15 EPS for the quarter. Headwater Exploration had a return on equity of 28.63% and a net margin of 35.52%.The firm had revenue of C$178.70 million during the quarter. Sell-side analysts predict that Headwater Exploration Inc. will post 0.6296296 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.