Headwater Exploration (TSE:HWX) Stock Price Down 1.4% - Here's What Happened

Headwater Exploration Inc. (TSE:HWX - Get Free Report) shares were down 1.4% during mid-day trading on Tuesday . The stock traded as low as C$6.92 and last traded at C$6.92. Approximately 271,857 shares traded hands during trading, a decline of 59% from the average daily volume of 665,807 shares. The stock had previously closed at C$7.02.

Wall Street Analyst Weigh In

A number of analysts recently commented on HWX shares. CIBC lowered their target price on shares of Headwater Exploration from C$9.00 to C$8.50 in a research note on Thursday, April 10th. Desjardins raised their price target on shares of Headwater Exploration from C$6.75 to C$7.00 and gave the stock a "hold" rating in a report on Monday, May 5th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of C$8.17.

Headwater Exploration Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07. The stock has a market cap of C$1.63 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 0.83 and a beta of 1.55. The stock has a fifty day moving average of C$6.61 and a 200 day moving average of C$6.44.

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.