Raymond James Financial Downgrades Headwater Exploration (TSE:HWX) to Hold

Headwater Exploration (TSE:HWX) was downgraded by research analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a report issued on Tuesday, MarketBeat Ratings reports. They presently have a C$9.50 target price on the stock, up from their prior target price of C$9.00. Raymond James Financial’s price target indicates a potential upside of 3.94% from the stock’s current price.

A number of other analysts also recently commented on HWX. National Bankshares boosted their target price on shares of Headwater Exploration from C$9.00 to C$10.50 and gave the stock an “outperform” rating in a report on Friday, December 5th. Desjardins upped their target price on Headwater Exploration from C$8.75 to C$9.50 and gave the company a “hold” rating in a report on Thursday, December 4th. CIBC boosted their target price on Headwater Exploration from C$8.50 to C$10.00 in a research note on Wednesday, October 15th. Finally, ATB Capital 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 report on Thursday, December 4th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$10.10.

Headwater Exploration Price Performance

Shares of TSE:HWX opened at C$9.14 on Tuesday. The firm has a market capitalization of C$2.18 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07. The business’s 50 day simple moving average is C$7.97 and its 200-day simple moving average is C$7.32. Headwater Exploration has a 12 month low of C$4.75 and a 12 month high of C$9.70.

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