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

Headwater Exploration (TSE:HWX - Get Free Report) had its price objective boosted by stock analysts at Haywood Securities from C$9.00 to C$10.00 in a note issued to investors on Monday, BayStreet.CA reports. Haywood Securities' price target points to a potential upside of 18.06% from the company's current price.

Several other equities research analysts have also recently commented on HWX. BMO Capital Markets set a C$9.00 target price on Headwater Exploration and gave the company an "outperform" rating in a research note on Thursday, March 21st. Desjardins reduced their target price on shares of Headwater Exploration from C$10.00 to C$8.75 and set a "buy" rating for the company in a report on Tuesday, January 23rd. Raymond James lowered their price target on shares of Headwater Exploration from C$10.00 to C$8.00 and set an "outperform" rating on the stock in a research note on Friday, January 19th. Finally, Stifel Nicolaus boosted their price target on shares of Headwater Exploration from C$8.75 to C$10.00 in a research report on Friday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Headwater Exploration currently has a consensus rating of "Moderate Buy" and an average price target of C$9.13.

Headwater Exploration Price Performance

Shares of TSE:HWX remained flat at C$8.47 during midday trading on Monday. 1,145,755 shares of the company were exchanged, compared to its average volume of 761,070. The firm has a market cap of C$2.00 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.83 and a beta of 1.60. Headwater Exploration has a fifty-two week low of C$5.76 and a fifty-two week high of C$8.57. The stock's fifty day moving average price is C$7.04 and its two-hundred day moving average price is C$6.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.07 and a current ratio of 1.64.

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

Insider Activity

In related news, Director Phillip R. Knoll sold 15,600 shares of Headwater Exploration stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of C$6.12, for a total transaction of C$95,406.48. In related news, Director Chandra Henry sold 20,000 shares of Headwater Exploration stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of C$7.86, for a total transaction of C$157,200.00. Also, Director Phillip R. Knoll sold 15,600 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of C$6.12, for a total transaction of C$95,406.48. Insiders sold a total of 386,229 shares of company stock valued at $2,882,787 in the last quarter. Company insiders own 4.86% of the company's stock.

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.