Headwater Exploration (TSE:HWX) Reaches New 52-Week High – Here’s What Happened

Headwater Exploration Inc. (TSE:HWX)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$13.82 and last traded at C$13.70, with a volume of 166319 shares changing hands. The stock had previously closed at C$13.60.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of Headwater Exploration from C$11.00 to C$13.50 and gave the stock an “outperform” rating in a research report on Friday, March 6th. National Bank Financial upped their price target on shares of Headwater Exploration from C$11.50 to C$13.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Desjardins lifted their price target on shares of Headwater Exploration from C$11.00 to C$11.75 and gave the stock a “hold” rating in a report on Friday, March 6th. Finally, Royal Bank Of Canada boosted their price objective on shares of Headwater Exploration from C$11.00 to C$13.00 and gave the stock a “sector perform” rating in a research note on Monday, March 9th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$11.68.

Headwater Exploration Price Performance

The firm has a market cap of C$3.08 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 0.83 and a beta of 0.49. The business’s 50-day simple moving average is C$12.67 and its two-hundred day simple moving average is C$10.96. The company has a current ratio of 0.98, a quick ratio of 2.07 and a debt-to-equity ratio of 0.27.

Headwater Exploration (TSE:HWX) last issued its quarterly earnings results on Thursday, March 5th. The company reported C$0.12 earnings per share (EPS) for the quarter. Headwater Exploration had a net margin of 24.12% and a return on equity of 18.54%. The firm had revenue of C$133.81 million for the quarter. As a group, research analysts expect that Headwater Exploration Inc. will post 0.6296296 EPS for the current fiscal year.

Insider Buying and Selling at Headwater Exploration

In other news, Director Kevin Olson sold 100,000 shares of Headwater Exploration stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of C$13.32, for a total value of C$1,332,000.00. Following the completion of 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 position. Also, Director Karen Nielsen acquired 6,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of C$12.90 per share, for a total transaction of C$77,400.00. Following the completion of the purchase, the director directly owned 6,000 shares in the company, valued at C$77,400. This trade represents a ∞ increase in their ownership of the stock. 5.08% of the stock is owned by insiders.

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.