Headwater Exploration (TSE:HWX) Hits New 52-Week High – Here’s Why

Headwater Exploration Inc. (TSE:HWX)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$12.22 and last traded at C$12.05, with a volume of 879373 shares changing hands. The stock had previously closed at C$11.97.

Analyst Ratings Changes

Several analysts have recently issued reports on HWX shares. Raymond James Financial cut shares of Headwater Exploration from a “moderate buy” rating to a “hold” rating and increased their price target for the stock from C$9.00 to C$9.50 in a research report on Tuesday, December 9th. Desjardins upped their target price on shares of Headwater Exploration from C$8.75 to C$9.50 and gave the stock a “hold” rating in a research note on Thursday, December 4th. National Bank Financial increased their target price on shares of Headwater Exploration from C$10.50 to C$11.50 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. ATB Cormark Capital Markets raised their price target on shares of 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 upped 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 report on Monday, January 19th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$10.42.

Headwater Exploration Trading Up 0.7%

The company’s fifty day moving average is C$10.39 and its two-hundred day moving average is C$8.62. The company has a quick ratio of 2.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.12. The stock has a market cap of C$2.88 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.83 and a beta of 0.59.

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.