Headwater Exploration (TSE:HWX) PT Raised to C$9.25

Headwater Exploration (TSE:HWX) had its price objective boosted by Desjardins from C$8.00 to C$9.25 in a research note released on Monday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

HWX has been the subject of several other research reports. National Bankshares increased their price objective on shares of Headwater Exploration from C$9.50 to C$10.50 and gave the company an outperform rating in a research note on Friday, April 19th. Haywood Securities increased their price objective on shares of Headwater Exploration from C$9.00 to C$10.00 in a research note on Monday, April 8th. BMO Capital Markets increased their price objective on shares of Headwater Exploration from C$9.00 to C$10.00 in a research note on Friday, May 10th. Finally, Stifel Nicolaus raised their price target on shares of Headwater Exploration from C$8.75 to C$10.00 in a research note on Friday, April 5th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of C$9.54.

Headwater Exploration Stock Performance

TSE HWX opened at C$7.11 on Monday. The firm has a market capitalization of C$1.69 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 0.83 and a beta of 1.63. The company has a current ratio of 1.42, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm’s 50 day simple moving average is C$7.26 and its 200 day simple moving average is C$7.20. Headwater Exploration has a 1 year low of C$5.88 and a 1 year high of C$8.57.

Headwater Exploration (TSE:HWX) last issued its quarterly earnings data on Thursday, May 9th. The company reported C$0.16 EPS for the quarter, meeting the consensus estimate of C$0.16. The business had revenue of C$134.03 million during the quarter. Headwater Exploration had a net margin of 36.47% and a return on equity of 27.82%. As a group, research analysts expect that Headwater Exploration will post 0.7362525 earnings per share for the current fiscal year.

Headwater Exploration Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date is Friday, September 27th. Headwater Exploration’s dividend payout ratio is presently 57.97%.

Insider Buying and Selling

In related news, Director Chandra Henry sold 19,300 shares of Headwater Exploration stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$7.05, for a total transaction of C$136,070.79. In other Headwater Exploration news, Director Jason Jowill Jaskela sold 107,977 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$7.13, for a total value of C$770,297.12. Also, Director Chandra Henry sold 19,300 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$7.05, for a total transaction of C$136,070.79. 5.12% of the stock is owned by insiders.

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.