Headwater Exploration Inc. (TSE:HWX) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Six analysts give Headwater Exploration an average recommendation of Moderate Buy, with the consensus split evenly between three "buy" and three "hold" ratings and an average 12‑month price target of C$11.68.
• Several brokerages recently raised their targets—BMO to C$13.50, RBC and National Bank to about C$13, and others to roughly C$11–11.75—indicating upgraded expectations for the stock.
• Shares opened at C$12.99 (near a 1‑year high of C$13.56); the company has a market cap of C$3.09 billion, a P/E of 20.3 and a PEG of 0.83.

Headwater Exploration Inc. (TSE:HWX - Get Free Report) has received an average recommendation of "Moderate Buy" from the six analysts that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$11.68.

Several research analysts recently commented on the stock. ATB Cormark Capital Markets lifted their target price on shares of Headwater Exploration from C$8.75 to C$11.00 and gave the stock an "outperform" rating in a report on Thursday, December 4th. BMO Capital Markets raised their price target on Headwater Exploration from C$11.00 to C$13.50 and gave the company an "outperform" rating in a research report on Friday, March 6th. Royal Bank Of Canada lifted their price objective on Headwater Exploration from C$11.00 to C$13.00 and gave the stock a "sector perform" rating in a research note on Monday, March 9th. National Bank Financial boosted their price objective on Headwater Exploration from C$11.50 to C$13.00 and gave the stock an "outperform" rating in a research report on Friday, March 6th. Finally, Desjardins increased their target price on Headwater Exploration from C$11.00 to C$11.75 and gave the company a "hold" rating in a research note on Friday, March 6th.

Headwater Exploration Price Performance

Shares of Headwater Exploration stock opened at C$12.99 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 2.07 and a debt-to-equity ratio of 1.88. The firm has a fifty day simple moving average of C$11.99 and a 200-day simple moving average of C$9.64. The stock has a market capitalization of C$3.09 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 0.83 and a beta of 0.51. Headwater Exploration has a 1-year low of C$4.75 and a 1-year high of C$13.56.

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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