CIBC set a C$9.00 price target on Headwater Exploration (TSE:HWX – Free Report) in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.
Several other brokerages also recently commented on HWX. National Bankshares cut their price target 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. Raymond James raised shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 7th. Finally, Atb Cap Markets raised shares of Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$9.54.
Read Our Latest Stock Analysis on HWX
Headwater Exploration Stock Up 1.6 %
Headwater Exploration Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date of this dividend was Tuesday, December 31st. Headwater Exploration’s dividend payout ratio is currently 51.28%.
Insider Transactions at Headwater Exploration
In other news, Director Phillip R. Knoll sold 5,400 shares of Headwater Exploration stock in a transaction on Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total transaction of C$37,638.00. 5.08% of the stock is currently owned by 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.
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