CIBC Raises Headwater Exploration (TSE:HWX) Price Target to C$10.00

Key Points

• CIBC has increased the price target for Headwater Exploration (TSE:HWX) from C$8.50 to C$10.00, indicating a potential upside of 39.08% from its current price.
• Headwater Exploration stock traded at C$7.19 on Wednesday, marking a 0.4% increase during the trading session, with a market cap of C$1.71 billion.
• Headwater Exploration is engaged in the exploration and development of oil and gas, primarily in New Brunswick and Alberta, generating significant revenue from the sale of various commodities.

Headwater Exploration (TSE:HWX - Get Free Report) had its price target increased by equities researchers at CIBC from C$8.50 to C$10.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. CIBC's target price would suggest a potential upside of 39.08% from the stock's current price.

Headwater Exploration Stock Up 0.4%

Headwater Exploration stock traded up C$0.03 during trading on Wednesday, reaching C$7.19. The stock had a trading volume of 228,409 shares, compared to its average volume of 660,693. Headwater Exploration has a 52-week low of C$4.75 and a 52-week high of C$7.95. The business has a 50 day moving average price of C$7.18 and a 200 day moving average price of C$6.68. 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$1.71 billion, a PE ratio of 9.22, a P/E/G ratio of 0.83 and a beta of 0.71.

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.

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