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

Headwater Exploration Inc. (TSE:HWX) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as C$11.99 and last traded at C$11.92, with a volume of 557316 shares changing hands. The stock had previously closed at C$11.47.

Wall Street Analyst Weigh In

Several research analysts have issued reports on HWX shares. Raymond James Financial downgraded Headwater Exploration from a “moderate buy” rating to a “hold” rating and upped their price objective for the stock from C$9.00 to C$9.50 in a report on Tuesday, December 9th. National Bank Financial raised their price target on Headwater Exploration from C$10.50 to C$11.50 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Desjardins lifted their price objective on Headwater Exploration from C$8.75 to C$9.50 and gave the stock a “hold” rating in a research report on Thursday, December 4th. ATB Cormark Capital Markets raised their target price on shares of Headwater Exploration from C$8.75 to C$11.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Finally, Royal Bank Of Canada lifted their price target on shares of Headwater Exploration from C$10.00 to C$11.00 and gave the stock a “sector perform” rating in a research report on Monday, January 19th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$10.42.

Headwater Exploration Stock Up 3.8%

The company has a market capitalization of C$2.84 billion, a P/E ratio of 16.32, a P/E/G ratio of 0.83 and a beta of 0.59. The company has a quick ratio of 2.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of C$10.16 and a 200-day simple moving average of C$8.48.

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.