Headwater Exploration (TSE:HWX) Sets New 1-Year High - Still a Buy?

Key Points

• Headwater Exploration shares reached a new 52-week high of C$15.24 and last traded at C$15.23, up from the previous close of C$15.17.
• Analyst sentiment is mixed but leans positive, with three Buy and three Hold ratings producing a “Moderate Buy” consensus; however, the average price target of C$12.75 is below the current share price.
• The company reported quarterly EPS of C$0.36 on C$227.67 million in revenue, along with a 27.85% net margin and 24.24% return on equity.

Shares of Headwater Exploration Inc. (TSE:HWX - Get Free Report) hit a new 52-week high during mid-day trading on Monday. The company traded as high as C$15.24 and last traded at C$15.23, with a volume of 251,363 shares changing hands. The stock had previously closed at C$15.17.

Wall Street Analysts Forecast Growth

Several analysts have commented on HWX shares. Desjardins set a C$14.50 target price on shares of Headwater Exploration and gave the company a "hold" rating in a research report on Friday, July 17th. Royal Bank Of Canada increased their price target on Headwater Exploration from C$14.00 to C$15.00 and gave the company a "sector perform" rating in a research note on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Headwater Exploration presently has an average rating of "Moderate Buy" and an average price target of C$12.75.

Headwater Exploration Price Performance

The company's fifty day moving average price is C$14.02 and its two-hundred day moving average price is C$13.15. The company has a market cap of C$3.61 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 0.83 and a beta of 0.65. The company has a quick ratio of 2.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.22.

Headwater Exploration (TSE:HWX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported C$0.36 EPS for the quarter. The business had revenue of C$227.67 million for the quarter. Headwater Exploration had a net margin of 27.85% and a return on equity of 24.24%. On average, equities research analysts forecast that Headwater Exploration Inc. will post 0.63 EPS for the current fiscal year.

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.

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