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

Key Points

• Consensus "Moderate Buy": Six brokerages cover Headwater (three hold, three buy) and the average 12‑month price target is C$11.68.
• Analysts have recently raised targets—RBC to C$13.00 (sector perform), National Bank to C$13.00 (outperform) and BMO to C$13.50 (outperform).
• Shares opened at C$12.69, trading near their 12‑month high (C$13.56) with a market cap of C$3.02B, a PE of 19.8 and a PEG of 0.83.

Shares of Headwater Exploration Inc. (TSE:HWX - Get Free Report) have received an average rating of "Moderate Buy" from the six ratings firms that are covering the stock, 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 12 month price target among brokerages that have updated their coverage on the stock in the last year is C$11.68.

Several research firms have weighed in on HWX. Royal Bank Of Canada upped their price target 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. Desjardins upped their price target on Headwater Exploration from C$11.00 to C$11.75 and gave the stock a "hold" rating in a research note on Friday, March 6th. National Bank Financial upped their price target on Headwater Exploration from C$11.50 to C$13.00 and gave the stock an "outperform" rating in a research note on Friday, March 6th. Finally, BMO Capital Markets upped their price target on Headwater Exploration from C$11.00 to C$13.50 and gave the stock an "outperform" rating in a research note on Friday, March 6th.

Headwater Exploration Trading Up 1.3%

Shares of TSE:HWX opened at C$12.69 on Friday. Headwater Exploration has a 12-month low of C$5.54 and a 12-month high of C$13.56. 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 company has a market cap of C$3.02 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 0.83 and a beta of 0.44. The stock has a 50 day moving average of C$12.37 and a 200 day moving average of C$10.22.

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.

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