Headwater Exploration Inc. (TSE:HWX) Receives C$9.54 Average PT from Brokerages

Shares of Headwater Exploration Inc. (TSE:HWX) have received an average rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$9.54.

A number of research analysts have recently weighed in on the stock. Raymond James raised shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 7th. Atb Cap Markets raised shares of Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd. 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. Finally, National Bankshares cut their price objective on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a report on Thursday, December 19th.

Headwater Exploration Stock Up 1.6 %

Headwater Exploration stock opened at C$6.95 on Friday. Headwater Exploration has a twelve month low of C$5.96 and a twelve month high of C$8.57. The firm has a 50 day moving average price of C$6.85 and a 200-day moving average price of C$6.81. The company has a market capitalization of C$1.65 billion, a P/E ratio of 8.91, a P/E/G ratio of 0.83 and a beta of 1.55. The company has a quick ratio of 2.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.13.

Headwater Exploration Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend was Tuesday, December 31st. Headwater Exploration’s payout ratio is 51.28%.

Insider Buying and Selling at Headwater Exploration

In other Headwater Exploration 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. Insiders own 5.08% of the company’s stock.

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.