Headwater Exploration Inc. (TSE:HWX) Senior Officer Sells C$201,507.44 in Stock

Headwater Exploration Inc. (TSE:HWX) Senior Officer Bradley Christman sold 26,102 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of C$7.72, for a total value of C$201,507.44.

Headwater Exploration Trading Down 0.4 %

Shares of HWX traded down C$0.03 during mid-day trading on Thursday, hitting C$7.70. 546,682 shares of the company’s stock traded hands, compared to its average volume of 681,356. The company has a quick ratio of 2.07, a current ratio of 1.64 and a debt-to-equity ratio of 0.14. Headwater Exploration Inc. has a 1 year low of C$5.76 and a 1 year high of C$7.89. The firm has a market capitalization of C$1.82 billion, a P/E ratio of 11.71, a PEG ratio of 0.83 and a beta of 1.60. The business’s 50-day moving average price is C$6.75 and its 200-day moving average price is C$6.85.

Headwater Exploration (TSE:HWX) last issued its quarterly earnings results on Thursday, March 7th. The company reported C$0.19 earnings per share for the quarter, topping the consensus estimate of C$0.18 by C$0.01. Headwater Exploration had a return on equity of 27.05% and a net margin of 36.68%. The company had revenue of C$138.43 million for the quarter. As a group, sell-side analysts forecast that Headwater Exploration Inc. will post 0.7096774 EPS for the current fiscal year.

Headwater Exploration Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.19%. The ex-dividend date is Wednesday, March 27th. Headwater Exploration’s dividend payout ratio (DPR) is 60.61%.

Analyst Upgrades and Downgrades

HWX has been the subject of several recent research reports. Raymond James decreased their price objective on Headwater Exploration from C$10.00 to C$8.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Stifel Nicolaus lifted their price target on Headwater Exploration from C$8.50 to C$8.75 in a research report on Friday, March 8th. Desjardins dropped their target price on Headwater Exploration from C$10.00 to C$8.75 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Finally, BMO Capital Markets set a C$9.00 price target on Headwater Exploration and gave the stock an “outperform” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$8.70.

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.