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

Shares of Headwater Exploration Inc. (TSE:HWX) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$9.13.

HWX has been the subject of a number of research reports. Haywood Securities lifted their target price on shares of Headwater Exploration from C$9.00 to C$10.00 in a research report on Monday, April 8th. Raymond James cut their target price on shares of Headwater Exploration from C$10.00 to C$8.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Stifel Nicolaus lifted their target price on shares of Headwater Exploration from C$8.75 to C$10.00 in a research report on Friday, April 5th. BMO Capital Markets set a C$9.00 target price on shares of Headwater Exploration and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Finally, Desjardins cut their target price on shares of Headwater Exploration from C$10.00 to C$8.75 and set a “buy” rating for the company in a research report on Tuesday, January 23rd.

Insider Activity at Headwater Exploration

In related news, Director Stephen Phillip Larke sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of C$8.17, for a total value of C$408,445.00. In other Headwater Exploration news, Director Kevin Olson sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of C$8.42, for a total transaction of C$842,050.00. Also, Director Stephen Phillip Larke sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of C$8.17, for a total transaction of C$408,445.00. Over the last three months, insiders sold 520,629 shares of company stock worth $4,037,876. 4.86% of the stock is owned by company insiders.

Headwater Exploration Price Performance

Shares of TSE HWX traded down C$0.06 during midday trading on Friday, hitting C$7.75. The company had a trading volume of 555,718 shares, compared to its average volume of 744,553. The company has a quick ratio of 2.07, a current ratio of 1.64 and a debt-to-equity ratio of 0.14. Headwater Exploration has a twelve month low of C$5.76 and a twelve month high of C$8.57. The business has a 50-day simple moving average of C$7.33 and a two-hundred day simple moving average of C$6.95. The firm has a market capitalization of C$1.83 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 0.83 and a beta of 1.60.

Headwater Exploration (TSE:HWX) last announced its quarterly earnings data on Thursday, March 7th. The company reported C$0.19 EPS for the quarter, beating the consensus estimate 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 firm had revenue of C$138.43 million during the quarter. Equities research analysts anticipate that Headwater Exploration will post 0.8199419 earnings per share for the current year.

Headwater Exploration Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date was Wednesday, March 27th. Headwater Exploration’s dividend payout ratio is presently 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.