Headwater Exploration (TSE:HWX) Upgraded at Raymond James

Raymond James upgraded shares of Headwater Exploration (TSE:HWX) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday, MarketBeat reports.

Several other equities analysts have also weighed in on HWX. Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. National Bankshares reduced their target price on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$9.38.

Headwater Exploration Stock Up 2.4 %

HWX stock opened at C$7.33 on Tuesday. The stock has a market cap of C$1.74 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.83 and a beta of 1.55. The company has a current ratio of 1.53, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is C$6.80 and its two-hundred day simple moving average is C$6.84. Headwater Exploration has a 1-year low of C$5.88 and a 1-year high of C$8.57.

Headwater Exploration Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.40 annualized dividend and a dividend yield of 5.46%. Headwater Exploration’s payout ratio is 51.28%.

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.