Headwater Exploration (TSE:HWX) Given a C$9.00 Price Target by CIBC Analysts

Headwater Exploration (TSE:HWX) received a C$9.00 target price from CIBC in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price suggests a potential upside of 24.83% from the company’s current price.

Several other equities analysts also recently weighed in on HWX. Atb Cap Markets upgraded Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd. National Bankshares decreased their target price 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. Finally, Raymond James upgraded shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Headwater Exploration presently has a consensus rating of “Buy” and a consensus price target of C$9.54.

Headwater Exploration Stock Up 2.4 %

Shares of Headwater Exploration stock traded up C$0.17 during midday trading on Monday, hitting C$7.21. The company had a trading volume of 182,191 shares, compared to its average volume of 687,192. Headwater Exploration has a 52-week low of C$5.96 and a 52-week high of C$8.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 1.53. The stock has a market capitalization of C$1.71 billion, a P/E ratio of 9.24, a P/E/G ratio of 0.83 and a beta of 1.55. The company has a 50 day moving average of C$6.83 and a 200 day moving average of C$6.83.

Insider Activity

In related news, Director Phillip R. Knoll sold 5,400 shares of Headwater Exploration stock in a transaction on Thursday, January 16th. The stock was sold at an average price of C$6.97, for a total value of C$37,638.00. 5.08% of the stock is owned by corporate insiders.

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.