Headwater Exploration (TSE:HWX) Stock Price Down 1% - Time to Sell?

Key Points

• Shares of Headwater Exploration Inc. (TSE:HWX) decreased by 1%, closing at C$6.78 after trading as low as C$6.76, with a trading volume increase of 3% over the average daily volume.
• Desjardins raised the price target for Headwater Exploration from C$6.75 to C$7.00 and rated the stock as a "hold"; the consensus rating remains at "Buy" with an average target price of C$8.17.
• Headwater Exploration operates in the oil and gas sector, primarily focusing on the exploration, development, and production of petroleum and natural gas, generating significant revenue from commodity sales.

Headwater Exploration Inc. (TSE:HWX - Get Free Report) shares were down 1% during trading on Tuesday . The stock traded as low as C$6.76 and last traded at C$6.78. Approximately 673,969 shares changed hands during trading, an increase of 3% from the average daily volume of 651,811 shares. The stock had previously closed at C$6.85.

Analysts Set New Price Targets

Separately, Desjardins increased 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 analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of C$8.17.

Headwater Exploration Stock Performance

The stock's fifty day simple moving average is C$6.98 and its 200-day simple moving average is C$6.46. The company has a current ratio of 1.54, a quick ratio of 2.07 and a debt-to-equity ratio of 0.12. The company has a market capitalization of C$1.64 billion, a price-to-earnings ratio of 8.90, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55.

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.