Headwater Exploration (TSE:HWX) Price Target Raised to C$7.00

Headwater Exploration (TSE:HWX - Get Free Report) had its price objective increased by investment analysts at Desjardins from C$6.75 to C$7.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Desjardins' price target points to a potential upside of 21.53% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. CIBC dropped their price objective on Headwater Exploration from C$9.00 to C$8.50 in a research note on Thursday, April 10th. Raymond James raised Headwater Exploration from a "market perform" rating to an "outperform" rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of C$8.63.

Headwater Exploration Stock Down 1.2 %

Shares of HWX traded down C$0.07 during mid-day trading on Monday, hitting C$5.76. 554,674 shares of the company's stock were exchanged, compared to its average volume of 770,489. The company has a market cap of C$1.36 billion, a PE ratio of 7.38, a P/E/G ratio of 0.83 and a beta of 1.55. Headwater Exploration has a 52 week low of C$4.75 and a 52 week high of C$7.83. The company has a 50-day simple moving average of C$5.93 and a 200 day simple moving average of C$6.51. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07.

Headwater Exploration Company Profile

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.