Analysts Set Headwater Exploration Inc. (TSE:HWX) Price Target at C$10.25

Shares of Headwater Exploration Inc. (TSE:HWX) have received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$10.25.

A number of equities research analysts recently weighed in on the stock. CIBC upped their target price on shares of Headwater Exploration from C$8.50 to C$10.00 in a report on Wednesday, October 15th. Desjardins boosted their price objective on Headwater Exploration from C$8.75 to C$9.50 and gave the stock a “hold” rating in a report on Thursday, December 4th. Raymond James Financial downgraded Headwater Exploration from a “moderate buy” rating to a “hold” rating and increased their price objective for the stock from C$9.00 to C$9.50 in a research note on Tuesday, December 9th. National Bankshares lifted their target price on Headwater Exploration from C$9.00 to C$10.50 and gave the company an “outperform” rating in a research report on Friday, December 5th. Finally, Royal Bank Of Canada upped their price target on Headwater Exploration from C$10.00 to C$11.00 and gave the stock a “sector perform” rating in a report on Monday.

Headwater Exploration Price Performance

Shares of TSE HWX opened at C$10.80 on Monday. 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 has a 50-day moving average of C$9.23 and a 200-day moving average of C$7.91. The stock has a market capitalization of C$2.58 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.83 and a beta of 0.56. Headwater Exploration has a fifty-two week low of C$4.75 and a fifty-two week high of C$10.85.

Headwater Exploration (TSE:HWX) last released its quarterly earnings results on Wednesday, October 29th. The company reported C$0.15 earnings per share for the quarter. The business had revenue of C$178.70 million during the quarter. Headwater Exploration had a return on equity of 28.63% and a net margin of 35.52%. As a group, sell-side analysts predict 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.