Headwater Exploration (OTCMKTS:CDDRF) Shares Up 1.4% – Here’s Why

Headwater Exploration Inc. (OTCMKTS:CDDRF)’s share price rose 1.4% during mid-day trading on Thursday . The stock traded as high as $6.59 and last traded at $6.59. Approximately 90,090 shares were traded during trading, an increase of 65% from the average daily volume of 54,488 shares. The stock had previously closed at $6.50.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CDDRF shares. Royal Bank Of Canada reissued a “sector perform” rating on shares of Headwater Exploration in a research report on Friday, December 5th. Raymond James Financial lowered shares of Headwater Exploration from an “outperform” rating to a “market perform” rating in a research note on Monday, December 8th. Finally, National Bankshares reissued an “outperform” rating on shares of Headwater Exploration in a research report on Friday, December 5th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Headwater Exploration has an average rating of “Hold”.

Headwater Exploration Trading Up 1.4%

The stock has a fifty day moving average of $5.85 and a 200 day moving average of $5.37.

Headwater Exploration Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.0808 per share. This represents a dividend yield of 584.0%. The ex-dividend date was Monday, September 29th. This is an increase from Headwater Exploration’s previous dividend of $0.08.

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.