Headwater Exploration (TSE:HWX) Lifted to “Hold” at Raymond James

Headwater Exploration (TSE:HWX) was upgraded by Raymond James to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

A number of other research analysts have also issued reports on the company. Desjardins boosted their price objective on Headwater Exploration from C$8.00 to C$9.25 and gave the company a “buy” rating in a research report on Monday, July 29th. National Bankshares cut their target price on Headwater Exploration from C$10.50 to C$9.50 in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$9.39.

Headwater Exploration Trading Up 0.3 %

Headwater Exploration stock opened at C$6.50 on Thursday. Headwater Exploration has a 1 year low of C$5.88 and a 1 year high of C$8.57. The firm’s 50-day moving average is C$6.65 and its 200-day moving average is C$7.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 1.53. The company has a market cap of C$1.54 billion, a P/E ratio of 8.33, a PEG ratio of 0.83 and a beta of 1.55.

Headwater Exploration (TSE:HWX) last issued its earnings results on Thursday, July 25th. The company reported C$0.22 earnings per share (EPS) for the quarter. The firm had revenue of C$164.28 million for the quarter. Headwater Exploration had a net margin of 38.54% and a return on equity of 30.64%. On average, equities analysts expect that Headwater Exploration will post 0.6296296 earnings per share for the current year.

About Headwater Exploration

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.