Desjardins Forecasts Strong Price Appreciation for Headwater Exploration (TSE:HWX) Stock

Headwater Exploration (TSE:HWX) had its price objective increased by equities researchers at Desjardins from C$8.75 to C$9.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price objective indicates a potential upside of 0.11% from the stock’s previous close.

Separately, CIBC lifted their price target on shares of Headwater Exploration from C$8.50 to C$10.00 in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$10.25.

Headwater Exploration Stock Performance

Headwater Exploration stock opened at C$9.49 on Thursday. The firm has a market capitalization of C$2.27 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62. Headwater Exploration has a one year low of C$4.75 and a one year high of C$9.70. The stock’s 50 day moving average price is C$7.90 and its 200 day moving average price is C$7.26. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.07 and a current ratio of 1.54.

Headwater Exploration (TSE:HWX) last issued 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. As a group, sell-side analysts expect that Headwater Exploration will post 0.6296296 EPS for the current fiscal 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.