Headwater Exploration (TSE:HWX) Hits New 12-Month High – Time to Buy?

Headwater Exploration Inc. (TSE:HWX) shares hit a new 52-week high during trading on Thursday . The company traded as high as C$14.39 and last traded at C$14.34, with a volume of 122514 shares changing hands. The stock had previously closed at C$14.14.

Wall Street Analysts Forecast Growth

HWX has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Headwater Exploration from C$14.00 to C$15.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. Desjardins set a C$14.50 price objective on shares of Headwater Exploration and gave the stock a “hold” rating in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$12.36.

Headwater Exploration Trading Up 1.5%

The firm’s 50 day simple moving average is C$12.84 and its two-hundred day simple moving average is C$12.65. The stock has a market capitalization of C$3.41 billion, a P/E ratio of 18.40, a P/E/G ratio of 0.83 and a beta of 0.58. The company has a quick ratio of 2.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.22.

Headwater Exploration (TSE:HWX) last released its quarterly earnings data on Thursday, July 23rd. The company reported C$0.36 earnings per share (EPS) for the quarter. The company had revenue of C$227.67 million for the quarter. Headwater Exploration had a net margin of 27.85% and a return on equity of 24.24%. As a group, analysts forecast that Headwater Exploration Inc. will post 0.6296296 earnings per share for the current fiscal year.

Headwater Exploration Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Headwater Exploration’s dividend payout ratio is 57.69%.

Headwater Exploration Company Profile

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.