Headwater Exploration (TSE:HWX) Hits New 12-Month High - Here's What Happened

Key Points

• Shares of Headwater Exploration (TSE:HWX) hit a new 52-week high, trading as high as C$13.56 and last at C$13.22 on Monday with about 186,147 shares traded.
• Analysts show mixed but generally positive sentiment: consensus rating is Moderate Buy with an average target of C$11.68, six recent notes split three Buys and three Holds, and several firms raised targets up to C$13.50.
• Key company metrics include a market cap of C$3.14 billion, a P/E of 20.63, PEG of 0.83, and a debt-to-equity ratio of 1.88; Headwater is an oil and gas explorer/producer operating in New Brunswick and Alberta.

Shares of Headwater Exploration Inc. (TSE:HWX - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as C$13.56 and last traded at C$13.22, with a volume of 186147 shares traded. The stock had previously closed at C$13.19.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HWX. Raymond James Financial lowered shares of Headwater Exploration from a "moderate buy" rating to a "hold" rating and raised their price target for the company from C$9.00 to C$9.50 in a research note on Tuesday, December 9th. Royal Bank Of Canada boosted 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. ATB Cormark Capital Markets raised their target price on Headwater Exploration from C$8.75 to C$11.00 and gave the company an "outperform" rating in a research report on Thursday, December 4th. BMO Capital Markets lifted 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. Finally, Desjardins boosted their price target on Headwater Exploration from C$11.00 to C$11.75 and gave the stock a "hold" rating in a research report on Friday, March 6th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Headwater Exploration presently has a consensus rating of "Moderate Buy" and an average target price of C$11.68.

Headwater Exploration Stock Up 0.1%

The stock has a market capitalization of C$3.14 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 0.83 and a beta of 0.51. The company has a quick ratio of 2.07, a current ratio of 1.23 and a debt-to-equity ratio of 1.88. The business's 50-day moving average is C$11.94 and its two-hundred day moving average is C$9.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.