Headwater Exploration (TSE:HWX) Stock Price Down 1.4% – Here’s What Happened

Headwater Exploration Inc. (TSE:HWX)’s stock price was down 1.4% on Tuesday . The company traded as low as C$6.92 and last traded at C$6.92. Approximately 271,857 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 665,807 shares. The stock had previously closed at C$7.02.

Analysts Set New Price Targets

HWX has been the subject of a number of analyst reports. CIBC cut their price objective on shares of Headwater Exploration from C$9.00 to C$8.50 in a research report on Thursday, April 10th. Desjardins boosted their price target on shares of Headwater Exploration from C$6.75 to C$7.00 and gave the stock a “hold” rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$8.17.

Headwater Exploration Stock Performance

The stock has a 50 day moving average of C$6.61 and a two-hundred day moving average of C$6.44. The stock has a market capitalization of C$1.64 billion, a PE ratio of 8.87, a P/E/G ratio of 0.83 and a beta of 1.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07.

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.