Headwater Exploration (TSE:HWX) Given New C$10.00 Price Target at BMO Capital Markets

Headwater Exploration (TSE:HWX - Get Free Report) had its target price increased by BMO Capital Markets from C$9.00 to C$10.00 in a report released on Friday, BayStreet.CA reports. BMO Capital Markets' price target points to a potential upside of 30.72% from the company's previous close.

Several other research firms have also commented on HWX. National Bankshares increased their price target on shares of Headwater Exploration from C$9.50 to C$10.50 and gave the company an "outperform" rating in a research report on Friday, April 19th. Stifel Nicolaus upped their price target on Headwater Exploration from C$8.75 to C$10.00 in a research report on Friday, April 5th. Raymond James lowered their price objective on 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. Haywood Securities upped their target price on Headwater Exploration from C$9.00 to C$10.00 in a research report on Monday, April 8th. Finally, Desjardins lowered their price target on 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$9.46.

Headwater Exploration Stock Up 0.4 %

Shares of HWX stock traded up C$0.03 during mid-day trading on Friday, hitting C$7.65. The stock had a trading volume of 529,580 shares, compared to its average volume of 712,923. Headwater Exploration has a 12-month low of C$5.88 and a 12-month high of C$8.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.64 and a quick ratio of 2.07. The firm's 50-day moving average is C$7.65 and its two-hundred day moving average is C$7.00. The firm has a market capitalization of C$1.81 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 0.83 and a beta of 1.60.

Headwater Exploration (TSE:HWX - Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported C$0.19 earnings per share for the quarter, topping the consensus estimate of C$0.18 by C$0.01. The firm had revenue of C$138.43 million during the quarter. Headwater Exploration had a net margin of 36.68% and a return on equity of 27.05%. On average, analysts predict that Headwater Exploration will post 0.8199419 earnings per share for the current fiscal year.

Insider Buying and Selling at Headwater Exploration

In other news, Director Chandra Henry sold 10,000 shares of the 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 news, Senior Officer Terry Ryan Danku sold 250,000 shares of the business's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of C$7.45, for a total transaction of C$1,862,700.00. Also, Director Chandra Henry sold 10,000 shares of the business's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of C$7.70, for a total transaction of C$76,968.00. Over the last three months, insiders have sold 520,629 shares of company stock valued at $4,037,876. Company insiders own 4.86% of the company's stock.

Headwater Exploration Company Profile

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.