Headwater Exploration (TSE:HWX) Stock Rating Lowered by Desjardins

Headwater Exploration (TSE:HWX) was downgraded by equities research analysts at Desjardins from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$7.25 price objective on the stock, down from their previous price objective of C$8.25. Desjardins’ target price would suggest a potential upside of 14.17% from the stock’s previous close.

Several other research firms also recently commented on HWX. CIBC set a C$9.00 price objective on shares of Headwater Exploration and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Raymond James upgraded shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 7th. Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. Finally, 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 research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$9.21.

Headwater Exploration Stock Performance

Shares of TSE:HWX traded up C$0.08 on Wednesday, hitting C$6.35. 602,126 shares of the company were exchanged, compared to its average volume of 720,583. Headwater Exploration has a 1-year low of C$5.70 and a 1-year high of C$8.57. The stock’s 50 day moving average price is C$6.66 and its 200 day moving average price is C$6.69. The company has a current ratio of 1.54, a quick ratio of 2.07 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of C$1.50 billion, a P/E ratio of 8.14, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55.

Insider Buying and Selling at Headwater Exploration

In other Headwater Exploration 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 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.