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

Headwater Exploration Inc. (TSE:HWX) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$9.54.

HWX has been the subject of several research reports. National Bankshares boosted their price objective on shares of Headwater Exploration from C$9.50 to C$10.50 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Haywood Securities boosted their price objective on shares of Headwater Exploration from C$9.00 to C$10.00 in a research note on Monday, April 8th. BMO Capital Markets boosted their price objective on shares of Headwater Exploration from C$9.00 to C$10.00 in a research note on Friday, May 10th. Finally, Desjardins boosted their price objective on shares of Headwater Exploration from C$8.00 to C$9.25 and gave the stock a “buy” rating in a research note on Monday, July 29th.

Headwater Exploration Price Performance

Headwater Exploration stock opened at C$6.75 on Friday. Headwater Exploration has a 1 year low of C$5.88 and a 1 year high of C$8.57. The firm has a 50 day moving average price of C$7.25 and a 200 day moving average price of C$7.21. The company has a market cap of C$1.60 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 0.83 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 1.42.

Headwater Exploration (TSE:HWX) last released its earnings results on Thursday, May 9th. The company reported C$0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$0.16. Headwater Exploration had a net margin of 36.47% and a return on equity of 27.82%. The firm had revenue of C$134.03 million during the quarter. Sell-side analysts predict that Headwater Exploration will post 0.7362525 earnings per share for the current year.

Headwater Exploration Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, September 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.93%. Headwater Exploration’s payout ratio is currently 57.97%.

Insider Transactions at Headwater Exploration

In other news, Director Jason Jowill Jaskela sold 107,977 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$7.13, for a total transaction of C$770,297.12. In related news, Director Chandra Henry sold 19,300 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$7.05, for a total value of C$136,070.79. Also, Director Jason Jowill Jaskela sold 107,977 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$7.13, for a total transaction of C$770,297.12. Corporate insiders own 5.12% 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.