Analysts Set Headwater Exploration Inc. (TSE:HWX) Target Price at C$9.54

Headwater Exploration Inc. (TSE:HWX) has been given a consensus rating of “Buy” by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$9.54.

A number of analysts recently weighed in on the stock. Raymond James raised shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 7th. CIBC set a C$9.00 target price on Headwater Exploration and gave the stock an “outperform” rating in a report on Monday, January 20th. National Bankshares reduced their price objective on Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Finally, Atb Cap Markets upgraded Headwater Exploration to a “strong-buy” rating in a research note on Tuesday, December 3rd.

Headwater Exploration Stock Down 0.4 %

Shares of Headwater Exploration stock opened at C$6.98 on Friday. The firm has a fifty day moving average of C$6.86 and a two-hundred day moving average of C$6.83. Headwater Exploration has a one year low of C$5.96 and a one year high of C$8.57. 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 company has a market cap of C$1.66 billion, a P/E ratio of 8.95, a PEG ratio of 0.83 and a beta of 1.55.

Headwater Exploration Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date was Tuesday, December 31st. Headwater Exploration’s payout ratio is 51.28%.

Insiders Place Their Bets

In other Headwater Exploration news, Director Phillip R. Knoll sold 5,400 shares of Headwater Exploration stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total transaction of C$37,638.00. 5.08% of the stock is owned by insiders.

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.