Headwater Exploration (TSE:HWX) Reaches New 12-Month High – Still a Buy?

Headwater Exploration Inc. (TSE:HWX)’s share price hit a new 52-week high during trading on Monday. The company traded as high as C$15.24 and last traded at C$15.23, with a volume of 251,363 shares traded. The stock had previously closed at C$15.17.

Analysts Set New Price Targets

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

Headwater Exploration Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.07 and a quick ratio of 2.07. The company has a 50 day simple moving average of C$14.06 and a 200-day simple moving average of C$12.76. The stock has a market capitalization of C$3.51 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 0.83 and a beta of 0.65.

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.