Headwater Exploration (TSE:HWX) Rating Lowered to “Hold” at Raymond James Financial

Headwater Exploration (TSE:HWX) was downgraded by research analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a C$9.50 price objective on the stock, up from their previous price objective of C$9.00. Raymond James Financial’s price objective suggests a potential upside of 2.70% from the company’s current price.

A number of other brokerages have also recently commented on HWX. Desjardins raised their price target on shares of Headwater Exploration from C$8.75 to C$9.50 and gave the stock a “hold” rating in a research note on Thursday, December 4th. ATB Capital increased their target price on Headwater Exploration from C$8.75 to C$11.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. CIBC raised their target price on Headwater Exploration from C$8.50 to C$10.00 in a research report on Wednesday, October 15th. Finally, National Bankshares boosted their price target on Headwater Exploration from C$9.00 to C$10.50 and gave the company an “outperform” rating in a research note on Friday, December 5th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$10.10.

Headwater Exploration Stock Up 0.2%

HWX opened at C$9.25 on Tuesday. The company has a market capitalization of C$2.21 billion, a P/E ratio of 12.67, a P/E/G ratio of 0.83 and a beta of 0.62. 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 firm’s fifty day moving average price is C$8.00 and its two-hundred day moving average price is C$7.33. Headwater Exploration has a fifty-two week low of C$4.75 and a fifty-two week high of C$9.70.

Headwater Exploration (TSE:HWX) last announced its quarterly earnings data on Wednesday, October 29th. The company reported C$0.15 earnings per share (EPS) for the quarter. Headwater Exploration had a net margin of 35.52% and a return on equity of 28.63%. The company had revenue of C$178.70 million during the quarter. On average, analysts anticipate that Headwater Exploration will post 0.6296296 EPS for the current year.

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.