Headwater Exploration (TSE:HWX) Given a C$9.00 Price Target by CIBC Analysts

CIBC set a C$9.00 price target on Headwater Exploration (TSE:HWX) in a research note released on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on HWX. Atb Cap Markets upgraded Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd. National Bankshares decreased their price objective on Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Raymond James raised shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 7th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$9.54.

Headwater Exploration Stock Up 1.6 %

Shares of TSE:HWX opened at C$6.95 on Thursday. The company has a fifty day moving average of C$6.85 and a 200-day moving average of C$6.81. The company has a market capitalization of C$1.65 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 dividend on an annualized basis and a dividend yield of 5.76%. Headwater Exploration’s dividend payout ratio is presently 51.28%.

Insider Buying and Selling

In other Headwater Exploration news, Director Phillip R. Knoll sold 5,400 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total value of C$37,638.00. 5.08% of the stock is currently owned by company insiders.

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.