Royal Bank Of Canada Forecasts Strong Price Appreciation for Headwater Exploration (TSE:HWX) Stock

Key Points

• Royal Bank of Canada raised Headwater Exploration’s price target to C$15.00 from C$14.00 while maintaining a “sector perform” rating, implying 14.77% upside from the prior close.
• Analyst sentiment is generally positive but mixed: Headwater has three Buy and three Hold ratings, resulting in a “Moderate Buy” consensus and an average target price of C$12.36.
• Headwater reported quarterly EPS of C$0.36 on C$227.67 million in revenue, with a 27.85% net margin and 24.24% return on equity. The stock traded at C$13.07, near its 52-week high of C$13.82.

Headwater Exploration (TSE:HWX - Get Free Report) had its price objective raised by stock analysts at Royal Bank Of Canada from C$14.00 to C$15.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 14.77% from the company's previous close.

Separately, Desjardins set a C$14.50 price target on Headwater Exploration and gave the company a "hold" rating in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$12.36.

Headwater Exploration Stock Performance

Shares of HWX stock traded down C$0.40 during mid-day trading on Monday, hitting C$13.07. The stock had a trading volume of 395,503 shares, compared to its average volume of 814,439. The firm has a market cap of C$3.11 billion, a PE ratio of 16.76, a PEG ratio of 0.83 and a beta of 0.61. The company's 50-day simple moving average is C$12.60 and its 200-day simple moving average is C$12.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.07 and a quick ratio of 2.07. Headwater Exploration has a fifty-two week low of C$6.58 and a fifty-two week high of C$13.82.

Headwater Exploration (TSE:HWX - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported C$0.36 earnings per share (EPS) for the quarter. Headwater Exploration had a net margin of 27.85% and a return on equity of 24.24%. The firm had revenue of C$227.67 million during the quarter. Sell-side analysts anticipate that Headwater Exploration will post 0.6296296 earnings per share for the current year.

Insiders Place Their Bets

In other Headwater Exploration news, Director Karen Nielsen purchased 6,000 shares of Headwater Exploration stock in a transaction on Thursday, May 14th. The shares were bought at an average price of C$12.90 per share, with a total value of C$77,400.00. Following the completion of the acquisition, the director directly owned 6,000 shares of the company's stock, valued at approximately C$77,400. This trade represents a ∞ increase in their ownership of the stock. Also, Director Kevin Olson sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of C$13.32, for a total transaction of C$1,332,000.00. Following the transaction, the director directly owned 2,820,179 shares of the company's stock, valued at approximately C$37,564,784.28. This trade represents a 3.42% decrease in their ownership of the stock. Company insiders own 5.08% of the company's stock.

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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