National Bankshares Raises Headwater Exploration (TSE:HWX) Price Target to C$11.50

Headwater Exploration (TSE:HWX) had its price objective hoisted by investment analysts at National Bankshares from C$10.50 to C$11.50 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price target suggests a potential upside of 0.52% from the stock’s previous close.

Several other equities analysts also recently weighed in on HWX. ATB Capital lifted their target price on Headwater Exploration from C$8.75 to C$11.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Royal Bank Of Canada raised their price objective on Headwater Exploration from C$10.00 to C$11.00 and gave the stock a “sector perform” rating in a research note on Monday, January 19th. CIBC lifted their price objective on Headwater Exploration from C$8.50 to C$10.00 in a research report on Wednesday, October 15th. Raymond James Financial downgraded Headwater Exploration from a “moderate buy” rating to a “hold” rating and boosted their price objective for the company from C$9.00 to C$9.50 in a research note on Tuesday, December 9th. Finally, Desjardins raised their target price 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. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Headwater Exploration currently has an average rating of “Hold” and a consensus target price of C$10.42.

Headwater Exploration Stock Performance

Shares of TSE HWX opened at C$11.44 on Tuesday. Headwater Exploration has a 12-month low of C$4.75 and a 12-month high of C$11.61. The firm has a market capitalization of C$2.73 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.83 and a beta of 0.59. The company has a current ratio of 1.54, a quick ratio of 2.07 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of C$9.74 and a 200 day moving average of C$8.20.

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