Headwater Exploration (TSE:HWX) Price Target Raised to C$9.50

Headwater Exploration (TSE:HWX) had its target price upped by research analysts at Desjardins from C$8.75 to C$9.50 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ target price indicates a potential downside of 1.86% from the stock’s previous close.

Separately, CIBC raised their price target on Headwater Exploration from C$8.50 to C$10.00 in a report on Wednesday, October 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$9.88.

Headwater Exploration Stock Performance

Shares of Headwater Exploration stock traded up C$0.40 during trading hours on Thursday, reaching C$9.68. The company’s stock had a trading volume of 466,374 shares, compared to its average volume of 664,430. The company’s 50 day simple moving average is C$7.83 and its 200 day simple moving average is C$7.23. 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 has a one year low of C$4.75 and a one year high of C$9.70. The stock has a market cap of C$2.31 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 0.83 and a beta of 0.41.

Headwater Exploration (TSE:HWX) last announced its quarterly earnings data on Wednesday, October 29th. The company reported C$0.15 earnings per share for the quarter. Headwater Exploration had a net margin of 35.52% and a return on equity of 28.63%. The business had revenue of C$178.70 million during the quarter. As a group, analysts expect that Headwater Exploration will post 0.6296296 EPS 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.