Headwater Exploration (TSE:HWX) Hits New 1-Year High – Still a Buy?

Headwater Exploration Inc. (TSE:HWX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$12.22 and last traded at C$12.05, with a volume of 879373 shares. The stock had previously closed at C$11.97.

Analyst Upgrades and Downgrades

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

Headwater Exploration Trading Up 0.7%

The business’s 50 day simple moving average is C$10.39 and its 200 day simple moving average is C$8.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07. The company has a market capitalization of C$2.88 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 0.83 and a beta of 0.59.

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.