Headwater Exploration (TSE:HWX) Reaches New 52-Week High - Should You Buy?

Key Points

• Headwater Exploration shares hit a new 52-week high of C$13.58 (last C$13.51) on Wednesday, trading 32,235 shares and closing above the prior close of C$13.24.
• Multiple analysts recently raised price targets and the ratings are split (three Buys, three Holds), producing an average MarketBeat rating of “Moderate Buy” with an average target of C$11.68 — below the current price.
• The company has a market capitalization of C$3.18 billion, a P/E of 20.91 and PEG of 0.83, with 50-day/200-day moving averages of C$12.43/C$10.34 and a debt-to-equity ratio of 1.88.

Headwater Exploration Inc. (TSE:HWX - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as C$13.58 and last traded at C$13.51, with a volume of 32235 shares. The stock had previously closed at C$13.24.

Wall Street Analysts Forecast Growth

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

Headwater Exploration Price Performance

The stock has a 50 day moving average of C$12.43 and a two-hundred day moving average of C$10.34. The company has a debt-to-equity ratio of 1.88, a quick ratio of 2.07 and a current ratio of 1.23. The firm has a market capitalization of C$3.18 billion, a P/E ratio of 20.91, a P/E/G ratio of 0.83 and a beta of 0.44.

About Headwater Exploration

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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