Headwater Exploration Inc. (OTCMKTS:CDDRF – Get Free Report)’s share price shot up 1% during mid-day trading on Thursday. The stock traded as high as $9.73 and last traded at $9.73. 21,863 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 101,988 shares. The stock had previously closed at $9.63.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Headwater Exploration in a research note on Friday, July 24th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Headwater Exploration in a report on Monday, July 27th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Headwater Exploration in a report on Wednesday, September 16th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.
Get Our Latest Research Report on Headwater Exploration
Headwater Exploration Trading Up 1.0%
About Headwater Exploration
Headwater Exploration Inc is a Canadian oil and natural gas exploration and production company focused primarily on developing light-oil resources in Alberta. The company’s activities include acquiring petroleum properties, drilling and completing wells, and producing and selling crude oil and natural gas.
Headwater’s operations are concentrated in the Clearwater oil play in central Alberta, including the Marten Hills area. Its development strategy emphasizes the application of horizontal drilling and multistage hydraulic fracturing to develop relatively shallow, oil-bearing formations and build repeatable production from established land positions.
The company was established in 2017 and has expanded its Alberta portfolio through acquisitions and ongoing drilling and development programs.
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