Headwater Exploration (TSE:HWX) Sets New 1-Year High – Should You Buy?

Shares of Headwater Exploration Inc. (TSE:HWX) hit a new 52-week high during trading on Monday . The stock traded as high as C$7.95 and last traded at C$7.93, with a volume of 180675 shares trading hands. The stock had previously closed at C$7.78.

Analyst Ratings Changes

Separately, CIBC upped their target price on shares of Headwater Exploration from C$8.50 to C$10.00 in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$8.67.

Headwater Exploration Price Performance

The firm has a market cap of C$1.91 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 0.83 and a beta of 0.41. The business’s 50-day simple moving average is C$7.33 and its two-hundred day simple moving average is C$6.90. The company has a current ratio of 1.54, a quick ratio of 2.07 and a debt-to-equity ratio of 0.12.

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.