Headwater Exploration (TSE:HWX) Stock Price Down 1.4% – Here’s Why

Headwater Exploration Inc. (TSE:HWX) shares fell 1.4% on Tuesday . The stock traded as low as C$6.92 and last traded at C$6.92. 271,857 shares changed hands during trading, a decline of 59% from the average session volume of 665,807 shares. The stock had previously closed at C$7.02.

Analyst Ratings Changes

Several equities analysts have commented on HWX shares. Desjardins raised their price target on shares of Headwater Exploration from C$6.75 to C$7.00 and gave the company a “hold” rating in a research report on Monday, May 5th. CIBC decreased their target price on Headwater Exploration from C$9.00 to C$8.50 in a report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Headwater Exploration has a consensus rating of “Buy” and an average price target of C$8.17.

Headwater Exploration Stock Performance

The stock’s 50-day simple moving average is C$6.61 and its 200 day simple moving average is C$6.44. The company has a market capitalization of C$1.64 billion, a PE ratio of 8.87, a P/E/G ratio of 0.83 and a beta of 1.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.07 and a current ratio of 1.54.

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.