Raymond James Upgrades Headwater Exploration (TSE:HWX) to “Hold”

Headwater Exploration (TSE:HWX) was upgraded by analysts at Raymond James to a “hold” rating in a report issued on Thursday, Zacks.com reports.

Other analysts have also issued reports about the stock. Desjardins raised their price objective on shares of Headwater Exploration from C$8.00 to C$9.25 and gave the stock a “buy” rating in a report on Monday, July 29th. National Bankshares decreased their target price on Headwater Exploration from C$10.50 to C$9.50 in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.39.

Headwater Exploration Stock Performance

Shares of HWX stock opened at C$6.50 on Thursday. The stock has a fifty day moving average of C$6.65 and a 200 day moving average of C$7.16. Headwater Exploration has a 52 week low of C$5.88 and a 52 week high of C$8.57. The firm has a market capitalization of C$1.54 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.83 and a beta of 1.55. The company has a quick ratio of 2.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.13.

Headwater Exploration (TSE:HWX) last issued its quarterly earnings data on Thursday, July 25th. The company reported C$0.22 EPS for the quarter. The business had revenue of C$164.28 million during the quarter. Headwater Exploration had a net margin of 38.54% and a return on equity of 30.64%. As a group, research analysts expect that Headwater Exploration will post 0.6296296 earnings per share for the current 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.