Headwater Exploration (TSE:HWX) PT Lowered to C$9.50

Headwater Exploration (TSE:HWX) had its price target decreased by National Bankshares from C$10.50 to C$9.50 in a note issued to investors on Friday, BayStreet.CA reports. National Bankshares’ target price would suggest a potential upside of 50.55% from the company’s current price.

Separately, Desjardins lifted their target price on shares of Headwater Exploration from C$8.00 to C$9.25 and gave the stock a “buy” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$9.39.

Headwater Exploration Stock Performance

HWX opened at C$6.31 on Friday. The company has a quick ratio of 2.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.13. The firm has a market cap of C$1.50 billion, a PE ratio of 8.09, a P/E/G ratio of 0.83 and a beta of 1.58. The business has a fifty day simple moving average of C$6.75 and a 200-day simple moving average of C$7.25. Headwater Exploration has a fifty-two week low of C$5.88 and a fifty-two week high of C$8.57.

Headwater Exploration (TSE:HWX) last released its quarterly earnings results on Thursday, July 25th. The company reported C$0.22 earnings per share for the quarter. The business had revenue of C$164.28 million during the quarter. Headwater Exploration had a return on equity of 30.64% and a net margin of 38.54%. As a group, equities analysts predict that Headwater Exploration will post 0.6166667 EPS for the current fiscal year.

About Headwater Exploration

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.