Analysts Set Headwater Exploration Inc. (TSE:HWX) Price Target at C$9.54

Headwater Exploration Inc. (TSE:HWX) has been assigned an average rating of “Buy” from the seven research firms that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$9.54.

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

Headwater Exploration Stock Performance

Shares of Headwater Exploration stock opened at C$6.95 on Friday. 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 has a twelve month low of C$5.96 and a twelve month high of C$8.57. The stock has a market cap of C$1.65 billion, a price-to-earnings ratio of 8.91, a P/E/G ratio of 0.83 and a beta of 1.55. The company’s fifty day moving average is C$6.85 and its 200 day moving average is C$6.81.

Headwater Exploration Dividend Announcement

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

Insider Buying and Selling

In related news, Director Phillip R. Knoll sold 5,400 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total value of C$37,638.00. 5.08% of the stock is currently owned by company 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.