Headwater Exploration Inc. (TSE:HWX) Receives C$9.38 Average Target Price from Analysts

Shares of Headwater Exploration Inc. (TSE:HWX) have received a consensus rating of “Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$9.38.

A number of equities research analysts have recently issued reports on the company. National Bankshares dropped their price objective on Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Atb Cap Markets raised shares of Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. Finally, Raymond James raised shares of Headwater Exploration to a “hold” rating in a research report on Thursday, October 17th.

Headwater Exploration Price Performance

TSE:HWX opened at C$6.81 on Monday. Headwater Exploration has a 52-week low of C$5.88 and a 52-week high of C$8.57. The company has a market cap of C$1.62 billion, a P/E ratio of 8.73, a P/E/G ratio of 0.83 and a beta of 1.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 1.53. The stock’s 50-day simple moving average is C$6.77 and its 200 day simple moving average is C$6.83.

Headwater Exploration Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued 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 5.87%. Headwater Exploration’s dividend payout ratio is currently 51.28%.

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.