Headwater Exploration (TSE:HWX) Stock Rating Lowered by Desjardins

Headwater Exploration (TSE:HWX) was downgraded by stock analysts at Desjardins from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$7.25 target price on the stock, down from their prior target price of C$8.25. Desjardins’ price target suggests a potential upside of 14.17% from the stock’s current price.

Several other equities analysts have also commented on HWX. Raymond James upgraded shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 7th. CIBC set a C$9.00 price objective on shares of Headwater Exploration and gave the stock an “outperform” rating in a report on Thursday, January 30th. Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd. Finally, National Bankshares cut their target price on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$9.21.

Headwater Exploration Trading Up 1.3 %

TSE:HWX traded up C$0.08 on Wednesday, hitting C$6.35. The stock had a trading volume of 602,126 shares, compared to its average volume of 720,583. The company has a quick ratio of 2.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.12. The stock has a market cap of C$1.50 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 0.83 and a beta of 1.55. The company has a fifty day moving average price of C$6.66 and a two-hundred day moving average price of C$6.69. Headwater Exploration has a 1-year low of C$5.70 and a 1-year high of C$8.57.

Insiders Place Their Bets

In other news, Director Phillip R. Knoll sold 5,400 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total value of C$37,638.00. 5.08% of the stock is currently owned by insiders.

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.