Headwater Exploration Inc. (TSE:HWX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Headwater Exploration Inc. (TSE:HWX) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$9.32.

HWX has been the topic of a number of research reports. National Bankshares upped their target price on shares of Headwater Exploration from C$9.50 to C$10.50 and gave the company an “outperform” rating in a research report on Friday, April 19th. Desjardins cut their price target on shares of Headwater Exploration from C$10.00 to C$8.75 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. BMO Capital Markets 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, March 21st. Raymond James reduced their price objective on shares of Headwater Exploration from C$10.00 to C$8.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Finally, Haywood Securities lifted their price objective on shares of Headwater Exploration from C$9.00 to C$10.00 in a research note on Monday, April 8th.

Insider Buying and Selling at Headwater Exploration

In other Headwater Exploration news, Director Phillip R. Knoll sold 20,000 shares of Headwater Exploration stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of C$7.51, for a total value of C$150,200.00. In other Headwater Exploration news, Senior Officer Jonathan L. Grimwood sold 24,527 shares of Headwater Exploration stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$7.60, for a total value of C$186,405.20. Also, Director Phillip R. Knoll sold 20,000 shares of Headwater Exploration stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of C$7.51, for a total transaction of C$150,200.00. Over the last quarter, insiders have sold 520,629 shares of company stock valued at $4,037,876. 4.86% of the stock is currently owned by corporate insiders.

Headwater Exploration Stock Up 0.5 %

Shares of TSE:HWX opened at C$7.79 on Friday. Headwater Exploration has a 12 month low of C$5.76 and a 12 month high of C$8.57. The company’s 50-day moving average price is C$7.48 and its two-hundred day moving average price is C$6.98. The company has a quick ratio of 2.07, a current ratio of 1.64 and a debt-to-equity ratio of 0.14. The firm has a market cap of C$1.84 billion, a P/E ratio of 11.80, a P/E/G ratio of 0.83 and a beta of 1.60.

Headwater Exploration (TSE:HWX) last released its earnings results on Thursday, March 7th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01. Headwater Exploration had a net margin of 36.68% and a return on equity of 27.05%. The company had revenue of C$138.43 million for the quarter. As a group, research analysts forecast 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. Shareholders of record on Friday, March 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend was Wednesday, March 27th. Headwater Exploration’s payout ratio is currently 60.61%.

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.