Headwater Exploration (TSE:HWX) PT Raised to C$10.00

Headwater Exploration (TSE:HWX - Get Free Report) had its price target increased by equities researchers at Stifel Nicolaus from C$8.75 to C$10.00 in a report released on Friday, BayStreet.CA reports. Stifel Nicolaus' price target would indicate a potential upside of 18.06% from the stock's current price.

Several other equities analysts have also recently commented on the stock. Raymond James decreased their price target on shares of Headwater Exploration from C$10.00 to C$8.00 and set an "outperform" rating for the company in a research report on Friday, January 19th. BMO Capital Markets set a C$9.00 target price on Headwater Exploration and gave the stock an "outperform" rating in a research note on Thursday, March 21st. Finally, Desjardins dropped their price objective on Headwater Exploration from C$10.00 to C$8.75 and set a "buy" rating on the stock in a report on Tuesday, January 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$8.95.

Headwater Exploration Trading Up 1.4 %

HWX traded up C$0.12 during mid-day trading on Friday, hitting C$8.47. 1,096,447 shares of the stock were exchanged, compared to its average volume of 755,320. The firm's fifty day moving average is C$7.00 and its two-hundred day moving average is C$6.89. Headwater Exploration has a 1-year low of C$5.76 and a 1-year high of C$8.57. The company has a market cap of C$2.00 billion, a PE ratio of 12.83, a PEG ratio of 0.83 and a beta of 1.60. The company has a current ratio of 1.64, a quick ratio of 2.07 and a debt-to-equity ratio of 0.14.

Headwater Exploration (TSE:HWX - Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.18 by C$0.01. Headwater Exploration had a net margin of 36.68% and a return on equity of 27.05%. The business had revenue of C$138.43 million for the quarter. Equities analysts forecast that Headwater Exploration will post 0.7601586 earnings per share for the current fiscal year.

Insider Buying and Selling at Headwater Exploration

In other Headwater Exploration news, Director Chandra Henry sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of C$7.70, for a total transaction of C$76,968.00. In other Headwater Exploration news, Director Chandra Henry sold 10,000 shares of the firm's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of C$7.70, for a total value of C$76,968.00. Also, Senior Officer Terry Ryan Danku sold 250,000 shares of the business's stock in a transaction on Monday, March 18th. The stock was sold at an average price of C$7.45, for a total transaction of C$1,862,700.00. In the last 90 days, insiders have sold 386,229 shares of company stock valued at $2,882,787. 4.86% of the stock is owned by corporate insiders.

About Headwater Exploration

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.