Headwater Exploration (TSE:HWX) Upgraded to Strong-Buy at Atb Cap Markets

Atb Cap Markets upgraded shares of Headwater Exploration (TSE:HWX) to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Several other research analysts have also weighed in on HWX. Raymond James upgraded Headwater Exploration to a “hold” rating in a research report on Thursday, October 17th. National Bankshares lowered their price objective on Headwater Exploration from C$10.50 to C$9.50 in a research report on Friday, September 27th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$9.46.

Headwater Exploration Price Performance

HWX stock opened at C$6.94 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.53 and a quick ratio of 2.07. The business has a 50 day simple moving average of C$6.78 and a 200-day simple moving average of C$6.94. The firm has a market capitalization of C$1.65 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend is Tuesday, December 31st. Headwater Exploration’s dividend payout ratio (DPR) 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.