Headwater Exploration Inc. (TSE:HWX) Given Average Rating of “Buy” by Brokerages

Shares of Headwater Exploration Inc. (TSE:HWX) have earned an average rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$9.38.

A number of equities research analysts have recently weighed in on the company. National Bankshares dropped their price objective on Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Raymond James raised shares of Headwater Exploration to a “hold” rating in a research note on Thursday, October 17th. Finally, Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd.

Headwater Exploration Trading Up 1.0 %

Shares of HWX stock opened at C$6.81 on Monday. The company has a 50-day moving average of C$6.76 and a two-hundred day moving average of C$6.83. The firm has a market cap of C$1.62 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. Headwater Exploration has a 1-year low of C$5.88 and a 1-year high of C$8.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.53 and a quick ratio of 2.07.

Headwater Exploration Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.87%. Headwater Exploration’s payout ratio is currently 51.28%.

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.