Desjardins Forecasts Strong Price Appreciation for Headwater Exploration (TSE:HWX) Stock

Headwater Exploration (TSE:HWX) had its target price hoisted by Desjardins from C$11.00 to C$11.75 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price objective indicates a potential downside of 4.39% from the stock’s current price.

A number of other equities analysts also recently weighed in on HWX. ATB Cormark Capital Markets raised their target price on shares of Headwater Exploration from C$8.75 to C$11.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Raymond James Financial downgraded Headwater Exploration from a “moderate buy” rating to a “hold” rating and upped their price target for the stock from C$9.00 to C$9.50 in a research note on Tuesday, December 9th. National Bank Financial raised their price target on Headwater Exploration from C$10.50 to C$11.50 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Finally, Royal Bank Of Canada upped their price target on shares of 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 research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Headwater Exploration has an average rating of “Moderate Buy” and a consensus target price of C$11.39.

Headwater Exploration Trading Down 1.5%

Shares of TSE HWX opened at C$12.29 on Friday. Headwater Exploration has a 1 year low of C$4.75 and a 1 year high of C$13.29. The stock has a market cap of C$2.93 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 0.83 and a beta of 0.51. The firm has a 50-day moving average of C$10.97 and a 200 day moving average of C$8.96. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.23 and a quick ratio of 2.07.

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.