National Bankshares Trims Headwater Exploration (TSE:HWX) Target Price to C$9.50

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

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

Headwater Exploration Stock Up 1.3 %

Headwater Exploration stock opened at C$6.31 on Friday. The company has a current ratio of 1.53, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. Headwater Exploration has a 1-year low of C$5.88 and a 1-year high of C$8.57. The firm’s fifty day simple moving average is C$6.75 and its 200-day simple moving average is C$7.25. The company has a market capitalization of C$1.50 billion, a P/E ratio of 8.09, a P/E/G ratio of 0.83 and a beta of 1.58.

Headwater Exploration (TSE:HWX) last posted its earnings results on Thursday, July 25th. The company reported C$0.22 earnings per share for the quarter. Headwater Exploration had a return on equity of 30.64% and a net margin of 38.54%. The company had revenue of C$164.28 million for the quarter. Sell-side analysts forecast that Headwater Exploration will post 0.6166667 earnings per share for the current fiscal year.

Headwater Exploration Company Profile

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.