National Bankshares Lowers Headwater Exploration (TSE:HWX) Price Target to C$9.50

Headwater Exploration (TSE:HWX) had its price target reduced by National Bankshares from C$10.50 to C$9.50 in a report issued on Friday, BayStreet.CA reports.

Separately, Desjardins upped their price target on Headwater Exploration from C$8.00 to C$9.25 and gave the stock a buy rating in a research note on Monday, July 29th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of C$9.39.

Headwater Exploration Trading Up 0.3 %

Shares of HWX stock opened at C$6.33 on Friday. Headwater Exploration has a 1-year low of C$5.88 and a 1-year high of C$8.57. The firm’s 50-day simple moving average is C$6.73 and its 200-day simple moving average is C$7.25. The firm has a market cap of C$1.50 billion, a P/E ratio of 8.12, a PEG ratio of 0.83 and a beta of 1.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.53 and a quick ratio of 2.07.

Headwater Exploration (TSE:HWX) last announced its quarterly earnings results on Thursday, July 25th. The company reported C$0.22 earnings per share for the quarter. The company had revenue of C$164.28 million for the quarter. Headwater Exploration had a net margin of 38.54% and a return on equity of 30.64%. As a group, equities analysts forecast that Headwater Exploration will post 0.6166667 EPS for the current year.

Headwater Exploration Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend is Friday, September 27th. Headwater Exploration’s dividend payout ratio is presently 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.