Headwater Exploration (TSE:HWX) Director Kevin Olson Sells 100,000 Shares

Key Points

• Director Kevin Olson sold 100,000 shares of Headwater Exploration on May 5 at an average price of C$13.32, for proceeds of about C$1.33 million. After the sale, he still held 2,820,179 shares.
• Headwater Exploration’s stock was trading near its 52-week high, recently rising to C$12.87, with a market cap of C$3.06 billion and a low beta of 0.49. The shares have outperformed their 200-day moving average of C$10.55.
• Analysts remain cautiously positive on the company: the consensus rating is “Moderate Buy,” with a average price target of C$11.68. Recent targets from major brokerages have been raised into the C$11.75 to C$13.50 range.

Headwater Exploration Inc. (TSE:HWX - Get Free Report) Director Kevin Olson sold 100,000 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of C$13.32, for a total value of C$1,332,000.00. Following the completion of the sale, the director owned 2,820,179 shares in the company, valued at approximately C$37,564,784.28. This trade represents a 3.42% decrease in their position.

Headwater Exploration Stock Performance

Headwater Exploration stock traded up C$0.33 during mid-day trading on Monday, hitting C$12.87. 660,882 shares of the company's stock traded hands, compared to its average volume of 959,697. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.98 and a quick ratio of 2.07. The firm has a 50 day simple moving average of C$12.55 and a two-hundred day simple moving average of C$10.55. Headwater Exploration Inc. has a fifty-two week low of C$6.13 and a fifty-two week high of C$13.69. The stock has a market cap of C$3.06 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 0.83 and a beta of 0.49.

Headwater Exploration (TSE:HWX - Get Free Report) last released its quarterly earnings data on Thursday, March 5th. The company reported C$0.12 EPS for the quarter. The firm had revenue of C$133.81 million for the quarter. Headwater Exploration had a net margin of 24.12% and a return on equity of 18.54%. On average, research analysts expect that Headwater Exploration Inc. will post 0.6296296 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HWX. BMO Capital Markets raised their price objective on shares of Headwater Exploration from C$11.00 to C$13.50 and gave the stock an "outperform" rating in a research report on Friday, March 6th. Royal Bank Of Canada upped their target price on Headwater Exploration from C$11.00 to C$13.00 and gave the company a "sector perform" rating in a research report on Monday, March 9th. National Bank Financial lifted their price target on Headwater Exploration from C$11.50 to C$13.00 and gave the stock an "outperform" rating in a report on Friday, March 6th. Finally, Desjardins boosted their price target 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. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Headwater Exploration has a consensus rating of "Moderate Buy" and an average price target of C$11.68.

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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