National Bank Financial Forecasts Strong Price Appreciation for Headwater Exploration (TSE:HWX) Stock

Headwater Exploration (TSE:HWX) had its price objective increased by research analysts at National Bank Financial from C$11.50 to C$13.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price would indicate a potential upside of 5.61% from the stock’s previous close.

A number of other brokerages have also recently weighed in on HWX. Desjardins boosted their price objective on shares of Headwater Exploration from C$11.00 to C$11.75 and gave the stock a “hold” rating in a research note on Friday. Raymond James Financial lowered shares of Headwater Exploration from a “moderate buy” rating to a “hold” rating and boosted their target price for the stock from C$9.00 to C$9.50 in a research report on Tuesday, December 9th. ATB Cormark Capital Markets raised their price target on Headwater Exploration from C$8.75 to C$11.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada lifted their price objective on Headwater Exploration from C$10.00 to C$11.00 and gave the stock a “sector perform” rating in a research note on Monday, January 19th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$11.39.

Headwater Exploration Stock Down 1.4%

TSE HWX traded down C$0.17 during trading on Friday, hitting C$12.31. 924,814 shares of the company traded hands, compared to its average volume of 871,715. The company has a market capitalization of C$2.94 billion, a P/E ratio of 16.86, a PEG ratio of 0.83 and a beta of 0.51. The business has a fifty day simple moving average of C$10.91 and a 200 day simple moving average of C$8.90. Headwater Exploration has a 12 month low of C$4.75 and a 12 month high of C$13.29. The company has a current ratio of 1.32, a quick ratio of 2.07 and a debt-to-equity ratio of 1.83.

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.