Headwater Exploration (TSE:HWX) Price Target Raised to C$15.00

Headwater Exploration (TSE:HWX) had its price target boosted by Royal Bank Of Canada from C$14.00 to C$15.00 in a report released on Monday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Separately, Desjardins set a C$14.50 target price on Headwater Exploration and gave the stock a “hold” rating in a report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Headwater Exploration currently has a consensus rating of “Moderate Buy” and an average price target of C$12.36.

Headwater Exploration Stock Performance

Shares of Headwater Exploration stock opened at C$13.40 on Monday. Headwater Exploration has a one year low of C$6.58 and a one year high of C$13.82. The firm has a market capitalization of C$3.19 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 0.83 and a beta of 0.61. The business has a 50-day simple moving average of C$12.59 and a 200 day simple moving average of C$12.26. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.07 and a quick ratio of 2.07.

Headwater Exploration (TSE:HWX) last posted its quarterly earnings results on Thursday, July 23rd. The company reported C$0.36 earnings per share for the quarter. Headwater Exploration had a return on equity of 24.24% and a net margin of 27.85%.The business had revenue of C$227.67 million for the quarter. On average, research analysts anticipate that Headwater Exploration will post 0.6296296 earnings per share for the current fiscal year.

Headwater Exploration Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, June 30th. Headwater Exploration’s payout ratio is presently 57.69%.

Insider Buying and Selling

In other news, Director Kevin Olson sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of C$13.32, for a total value of C$1,332,000.00. Following the completion of the transaction, the director directly owned 2,820,179 shares of the company’s stock, valued at C$37,564,784.28. This represents a 3.42% decrease in their ownership of the stock. Also, Director Karen Nielsen bought 6,000 shares of Headwater Exploration stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of C$12.90 per share, with a total value of C$77,400.00. Following the completion of the acquisition, the director owned 6,000 shares of the company’s stock, valued at C$77,400. This represents a ? increase in their ownership of the stock. 5.08% of the stock is owned by insiders.

Headwater Exploration Company Profile

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.