Headwater Exploration (TSE:HWX) Trading Up 2.7% – Here’s Why

Shares of Headwater Exploration Inc. (TSE:HWX) were up 2.7% during trading on Wednesday . The company traded as high as C$13.60 and last traded at C$13.33. Approximately 395,333 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 887,917 shares. The stock had previously closed at C$12.98.

Analysts Set New Price Targets

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

Headwater Exploration Stock Performance

The company has a quick ratio of 2.07, a current ratio of 0.98 and a debt-to-equity ratio of 0.27. The stock has a market cap of C$3.17 billion, a P/E ratio of 22.98, a PEG ratio of 0.83 and a beta of 0.58. The stock has a fifty day simple moving average of C$12.70 and a 200-day simple moving average of C$11.44.

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

Insider Transactions at Headwater Exploration

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