Headwater Exploration Inc. (TSE:HWX) Senior Officer Sells C$201,507.44 in Stock

Headwater Exploration Inc. (TSE:HWX) Senior Officer Bradley Christman sold 26,102 shares of Headwater Exploration stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of C$7.72, for a total transaction of C$201,507.44.

Headwater Exploration Price Performance

HWX stock traded down C$0.03 during midday trading on Thursday, reaching C$7.70. The stock had a trading volume of 546,682 shares, compared to its average volume of 681,356. Headwater Exploration Inc. has a 52-week low of C$5.76 and a 52-week high of C$7.89. The company has a current ratio of 1.64, a quick ratio of 2.07 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is C$6.75 and its 200 day simple moving average is C$6.85. The company has a market cap of C$1.82 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 0.83 and a beta of 1.60.

Headwater Exploration (TSE:HWX) last released its earnings results on Thursday, March 7th. The company reported C$0.19 earnings per share for the quarter, beating the consensus estimate of C$0.18 by C$0.01. The company had revenue of C$138.43 million during the quarter. Headwater Exploration had a return on equity of 27.05% and a net margin of 36.68%. As a group, sell-side analysts predict that Headwater Exploration Inc. will post 0.7096774 earnings per share for the current fiscal year.

Headwater Exploration Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.19%. The ex-dividend date is Wednesday, March 27th. Headwater Exploration’s payout ratio is 60.61%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HWX. Raymond James decreased their price target on shares of Headwater Exploration from C$10.00 to C$8.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Desjardins dropped their target price on shares of Headwater Exploration from C$10.00 to C$8.75 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. BMO Capital Markets set a C$9.00 price objective on shares of Headwater Exploration and gave the company an “outperform” rating in a research note on Thursday, March 21st. Finally, Stifel Nicolaus increased their price objective on shares of Headwater Exploration from C$8.50 to C$8.75 in a research note on Friday, March 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$8.70.

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.