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

Headwater Exploration Inc. (TSE:HWX) has been given an average recommendation of “Buy” by the seven analysts that are covering the company, Marketbeat.com reports. Six research 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 objective among analysts that have issued ratings on the stock in the last year is C$9.54.

A number of analysts recently commented on HWX shares. Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a research note on Tuesday, December 3rd. National Bankshares reduced their target price on Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. 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. 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 Price Performance

TSE HWX opened at C$6.77 on Friday. The company has a market cap of C$1.61 billion, a PE ratio of 8.68, a P/E/G ratio of 0.83 and a beta of 1.55. The firm’s 50 day moving average price is C$6.86 and its 200-day moving average price is C$6.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 1.53. Headwater Exploration has a 52-week low of C$5.96 and a 52-week high of C$8.57.

Headwater Exploration Dividend Announcement

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

Insider Transactions at Headwater Exploration

In other news, Director Phillip R. Knoll sold 5,400 shares of the business’s 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. 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.