Headwater Exploration (OTCMKTS:CDDRF) Shares Down 3.3% – Here’s Why

Headwater Exploration Inc. (OTCMKTS:CDDRF) shares traded down 3.3% during trading on Friday . The company traded as low as $4.82 and last traded at $4.82. 54,275 shares changed hands during trading, an increase of 120% from the average session volume of 24,691 shares. The stock had previously closed at $4.98.

Analyst Ratings Changes

Separately, Raymond James assumed coverage on Headwater Exploration in a research report on Friday, October 18th. They issued a “market perform” rating and a $8.50 price objective on the stock.

Headwater Exploration Trading Down 3.3 %

The stock has a 50-day moving average price of $4.89 and a 200-day moving average price of $5.04.

Headwater Exploration Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.0724 per share. The ex-dividend date was Friday, September 27th. This represents a yield of 5.96%.

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.