National Bankshares Trims Headwater Exploration (TSE:HWX) Target Price to C$9.50

Headwater Exploration (TSE:HWX) had its price objective cut by National Bankshares from C$10.50 to C$9.50 in a report issued on Friday morning, BayStreet.CA reports.

Separately, Desjardins increased their target price on Headwater Exploration from C$8.00 to C$9.25 and gave the company a buy rating in a research report on Monday, July 29th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$9.39.

Headwater Exploration Price Performance

HWX stock opened at C$6.31 on Friday. The firm has a market capitalization of C$1.50 billion, a P/E ratio of 8.09, a price-to-earnings-growth ratio of 0.83 and a beta of 1.58. Headwater Exploration has a 52 week low of C$5.88 and a 52 week high of C$8.57. The company has a fifty day simple moving average of C$6.75 and a two-hundred day simple moving average of C$7.25. 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 (TSE:HWX) last posted its quarterly earnings data on Thursday, July 25th. The company reported C$0.22 earnings per share (EPS) for the quarter. Headwater Exploration had a return on equity of 30.64% and a net margin of 38.54%. The company had revenue of C$164.28 million during the quarter. Analysts anticipate that Headwater Exploration will post 0.6166667 earnings per share for the current fiscal year.

Headwater Exploration Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.40 dividend on an annualized basis and a yield of 6.34%. Headwater Exploration’s payout ratio is 51.28%.

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.