Headwater Exploration (TSE:HWX) Given a C$14.50 Price Target by Desjardins Analysts

Key Points

• Desjardins initiated coverage of Headwater Exploration with a C$14.50 price target and a hold rating, implying about 13.6% upside from the stock’s current price.
• Headwater Exploration shares rose 1.5% to C$12.76 on Friday, after trading within a 52-week range of C$6.58 to C$13.82. The company also has a market cap of about C$3.03 billion.
• The company reported C$0.12 EPS and C$133.81 million in quarterly revenue in its latest earnings release, while insider activity included a director selling 100,000 shares and another director buying 6,000 shares.

Headwater Exploration (TSE:HWX - Get Free Report) received a C$14.50 target price from investment analysts at Desjardins in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Desjardins' price objective indicates a potential upside of 13.64% from the company's current price.

Headwater Exploration Trading Up 1.5%

Headwater Exploration stock traded up C$0.19 during trading hours on Friday, reaching C$12.76. 212,795 shares of the company's stock traded hands, compared to its average volume of 822,163. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.07 and a current ratio of 0.98. Headwater Exploration has a fifty-two week low of C$6.58 and a fifty-two week high of C$13.82. The firm has a market capitalization of C$3.03 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 0.83 and a beta of 0.61. The firm's 50 day moving average is C$12.59 and its 200-day moving average is C$12.01.

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

Insider Buying and Selling at Headwater Exploration

In other news, Director Kevin Olson sold 100,000 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of C$13.32, for a total value of C$1,332,000.00. Following the transaction, the director directly owned 2,820,179 shares in the company, valued at C$37,564,784.28. This trade represents a 3.42% decrease in their position. Also, Director Karen Nielsen acquired 6,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of C$12.90 per share, with a total value of C$77,400.00. Following the completion of the purchase, the director owned 6,000 shares of the company's stock, valued at C$77,400. This trade represents a ∞ increase in their ownership of the stock. 5.08% of the stock is owned by company insiders.

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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