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

Shares of Headwater Exploration Inc. (TSE:HWX) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$9.46.

HWX has been the subject of a number of research analyst reports. National Bankshares upped their target price on Headwater Exploration from C$9.50 to C$10.50 and gave the company an “outperform” rating in a research report on Friday, April 19th. BMO Capital Markets upped their price target on shares of Headwater Exploration from C$9.00 to C$10.00 in a research report on Friday, May 10th. Stifel Nicolaus raised their price objective on shares of Headwater Exploration from C$8.75 to C$10.00 in a research report on Friday, April 5th. Finally, Haywood Securities upped their target price on shares of Headwater Exploration from C$9.00 to C$10.00 in a report on Monday, April 8th.

Insider Transactions at Headwater Exploration

In related news, Director Chandra Henry sold 19,300 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$7.05, for a total value of C$136,070.79. In other Headwater Exploration news, Director Jason Jowill Jaskela sold 107,977 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of C$7.13, for a total value of C$770,297.12. Also, Director Chandra Henry sold 19,300 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of C$7.05, for a total transaction of C$136,070.79. Insiders have sold a total of 177,277 shares of company stock valued at $1,314,813 in the last ninety days. 5.12% of the stock is currently owned by company insiders.

Headwater Exploration Stock Up 0.3 %

Shares of Headwater Exploration stock opened at C$7.28 on Wednesday. Headwater Exploration has a 52-week low of C$5.88 and a 52-week high of C$8.57. The company has a 50 day moving average of C$7.32 and a 200 day moving average of C$7.09. The company has a quick ratio of 2.07, a current ratio of 1.42 and a debt-to-equity ratio of 0.13. The company has a market capitalization of C$1.73 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.83 and a beta of 1.63.

Headwater Exploration (TSE:HWX) last announced its quarterly earnings results on Thursday, May 9th. The company reported C$0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.16. Headwater Exploration had a return on equity of 27.82% and a net margin of 36.47%. The company had revenue of C$134.03 million during the quarter. As a group, research analysts forecast that Headwater Exploration will post 0.7362525 EPS for the current fiscal year.

Headwater Exploration Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date of this dividend is Friday, June 28th. Headwater Exploration’s dividend payout ratio is presently 57.97%.

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.