Headwater Exploration (TSE:HWX) Price Target Raised to C$10.50 at National Bankshares

Headwater Exploration (TSE:HWX) had its price objective hoisted by National Bankshares from C$9.50 to C$10.50 in a report published on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently weighed in on HWX. BMO Capital Markets set a C$9.00 target price on shares of Headwater Exploration and gave the company an outperform rating in a research note on Thursday, March 21st. Desjardins dropped their target price on shares of Headwater Exploration from C$10.00 to C$8.75 and set a buy rating on the stock in a research note on Tuesday, January 23rd. Raymond James lowered their price target on shares of Headwater Exploration from C$10.00 to C$8.00 and set an outperform rating on the stock in a research report on Friday, January 19th. Haywood Securities boosted their price target on shares of Headwater Exploration from C$9.00 to C$10.00 in a research report on Monday, April 8th. Finally, Stifel Nicolaus boosted their price target on shares of Headwater Exploration from C$8.75 to C$10.00 in a research report on Friday, April 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Headwater Exploration presently has a consensus rating of Moderate Buy and a consensus target price of C$9.32.

Headwater Exploration Stock Down 1.3 %

Headwater Exploration stock opened at C$7.71 on Friday. Headwater Exploration has a fifty-two week low of C$5.76 and a fifty-two week high of C$8.57. The stock has a market cap of C$1.82 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 0.83 and a beta of 1.60. The firm’s 50-day simple moving average is C$7.36 and its 200 day simple moving average is C$6.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.07 and a current ratio of 1.64.

Headwater Exploration (TSE:HWX) last released its quarterly earnings results on Thursday, March 7th. The company reported C$0.19 earnings per share for the quarter, topping the consensus estimate of C$0.18 by C$0.01. The business had revenue of C$138.43 million for the quarter. Headwater Exploration had a net margin of 36.68% and a return on equity of 27.05%. Research analysts predict that Headwater Exploration will post 0.8199419 EPS for the current fiscal year.

Headwater Exploration Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date was Wednesday, March 27th. Headwater Exploration’s payout ratio is 60.61%.

Insider Activity

In other news, Director Chandra Henry sold 10,000 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of C$7.70, for a total value of C$76,968.00. In other Headwater Exploration news, Senior Officer Terry Ryan Danku sold 250,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of C$7.45, for a total transaction of C$1,862,700.00. Also, Director Chandra Henry sold 10,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of C$7.70, for a total transaction of C$76,968.00. In the last 90 days, insiders sold 520,629 shares of company stock valued at $4,037,876. Corporate insiders own 4.86% of the company’s stock.

Headwater Exploration Company Profile

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.