Headwater Exploration Inc. (TSE:HWX) Given Consensus Recommendation of “Buy” by Analysts

Shares of Headwater Exploration Inc. (TSE:HWX) have received a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$9.54.

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

Headwater Exploration Stock Down 1.7 %

TSE:HWX opened at C$6.77 on Friday. Headwater Exploration has a twelve month low of C$5.96 and a twelve month high of C$8.57. The firm has a market capitalization of C$1.61 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. The company has a quick ratio of 2.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is C$6.86 and its two-hundred day moving average price is C$6.82.

Headwater Exploration Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend was Tuesday, December 31st. Headwater Exploration’s payout ratio is 51.28%.

Insiders Place Their Bets

In related news, Director Phillip R. Knoll sold 5,400 shares of the 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 value of C$37,638.00. Corporate insiders own 5.08% of the company’s stock.

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.