Headwater Exploration Inc. (TSE:HWX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Headwater Exploration Inc. (TSE:HWX) has earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$9.32.

Several research firms have commented on HWX. Desjardins decreased their target price on shares of Headwater Exploration from C$10.00 to C$8.75 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Haywood Securities raised their target price on shares of Headwater Exploration from C$9.00 to C$10.00 in a report on Monday, April 8th. Stifel Nicolaus lifted their price target on shares of Headwater Exploration from C$8.75 to C$10.00 in a report on Friday, April 5th. Raymond James decreased their price target on shares of Headwater Exploration from C$10.00 to C$8.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. Finally, National Bankshares lifted their price target on shares of Headwater Exploration from C$9.50 to C$10.50 and gave the company an “outperform” rating in a report on Friday, April 19th.

Insider Activity at Headwater Exploration

In related news, Senior Officer Bradley Christman sold 26,102 shares of Headwater Exploration stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of C$7.72, for a total transaction of C$201,507.44. In related news, Senior Officer Bradley Christman sold 26,102 shares of Headwater Exploration stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of C$7.72, for a total transaction of C$201,507.44. Also, Director Chandra Henry sold 10,000 shares of Headwater Exploration stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of C$7.70, for a total transaction of C$76,968.00. In the last three months, insiders have sold 520,629 shares of company stock valued at $4,037,876. 4.86% of the stock is owned by insiders.

Headwater Exploration Price Performance

HWX stock opened at C$7.82 on Friday. The company has a quick ratio of 2.07, a current ratio of 1.64 and a debt-to-equity ratio of 0.14. Headwater Exploration has a 12 month low of C$5.76 and a 12 month high of C$8.57. The firm has a market cap of C$1.85 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.83 and a beta of 1.60. The company’s 50-day moving average price is C$7.42 and its two-hundred day moving average price is C$6.97.

Headwater Exploration (TSE:HWX) last released its earnings results on Thursday, March 7th. The company reported C$0.19 EPS for the quarter, beating the consensus estimate of C$0.18 by C$0.01. Headwater Exploration had a net margin of 36.68% and a return on equity of 27.05%. The firm had revenue of C$138.43 million for the quarter. On average, analysts anticipate that Headwater Exploration will post 0.8199419 earnings per share for the current fiscal year.

Headwater Exploration Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.12%. The ex-dividend date was Wednesday, March 27th. Headwater Exploration’s dividend payout ratio (DPR) is presently 60.61%.

About Headwater Exploration

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.