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

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

HWX has been the topic of a number of recent analyst reports. National Bankshares increased their target price on Headwater Exploration from C$9.50 to C$10.50 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets set a C$9.00 price target on Headwater Exploration and gave the company an “outperform” rating in a research note on Thursday, March 21st. Desjardins cut their price target on 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. Raymond James cut their price target on 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. Finally, Stifel Nicolaus raised their price target on Headwater Exploration from C$8.75 to C$10.00 in a research note on Friday, April 5th.

Insider Transactions at Headwater Exploration

In related news, Senior Officer Terry Ryan Danku sold 250,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of C$7.45, for a total transaction of C$1,862,700.00. In other Headwater Exploration news, Senior Officer Terry Ryan Danku sold 250,000 shares of Headwater Exploration stock in a transaction on Monday, March 18th. The shares were sold at an average price of C$7.45, for a total value of C$1,862,700.00. Also, Director Phillip R. Knoll sold 20,000 shares of Headwater Exploration stock in a transaction on Monday, March 18th. The shares were sold at an average price of C$7.51, for a total transaction of C$150,200.00. Over the last ninety days, insiders sold 520,629 shares of company stock worth $4,037,876. Company insiders own 4.86% of the company’s stock.

Headwater Exploration Trading Down 0.8 %

HWX traded down C$0.06 during trading on Friday, reaching C$7.75. The company had a trading volume of 555,718 shares, compared to its average volume of 744,553. The stock has a market cap of C$1.83 billion, a P/E ratio of 11.79, a PEG ratio of 0.83 and a beta of 1.60. The business has a 50 day simple moving average of C$7.33 and a 200-day simple moving average of C$6.95. Headwater Exploration has a 52 week low of C$5.76 and a 52 week high of C$8.57. 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 (TSE:HWX) last issued its quarterly earnings results on Thursday, March 7th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.18 by C$0.01. Headwater Exploration had a return on equity of 27.05% and a net margin of 36.68%. The company had revenue of C$138.43 million during the quarter. On average, equities analysts anticipate that Headwater Exploration will post 0.8199419 EPS for the current fiscal year.

Headwater Exploration Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.40 annualized dividend and a dividend yield of 5.16%. Headwater Exploration’s payout ratio is currently 60.61%.

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.