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

Shares of Headwater Exploration Inc. (TSE:HWX) have received an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$9.32.

A number of analysts recently weighed in on HWX shares. Desjardins lowered 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 reduced 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. 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. National Bankshares upped their target price on shares of Headwater Exploration from C$9.50 to C$10.50 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Finally, Haywood Securities upped their target price on shares of Headwater Exploration from C$9.00 to C$10.00 in a research report on Monday, April 8th.

Insider Activity at Headwater Exploration

In other Headwater Exploration news, Director Phillip R. Knoll sold 20,000 shares of the company’s 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, Director Phillip R. Knoll sold 20,000 shares of the company’s 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. Also, Director Chandra Henry sold 10,000 shares of the company’s stock in a transaction that occurred 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. Insiders have sold 520,629 shares of company stock worth $4,037,876 over the last ninety days. Company insiders own 4.86% of the company’s stock.

Headwater Exploration Stock Performance

TSE:HWX opened at C$7.82 on Friday. The firm’s 50-day moving average is C$7.42 and its 200-day moving average is C$6.97. Headwater Exploration has a 52-week low of C$5.76 and a 52-week high of C$8.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.07 and a current ratio of 1.64. The company has a market cap of C$1.85 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.83 and a beta of 1.60.

Headwater Exploration (TSE:HWX) last posted its earnings results on Thursday, March 7th. The company reported C$0.19 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts anticipate that Headwater Exploration will post 0.8199419 earnings per share for the current year.

Headwater Exploration Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.10 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.40 annualized dividend and a yield of 5.12%. Headwater Exploration’s dividend payout ratio is currently 60.61%.

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.