Headwater Exploration Inc. (TSE:HWX) Receives C$9.38 Average PT from Analysts

Shares of Headwater Exploration Inc. (TSE:HWX) have received an average rating of “Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$9.38.

A number of brokerages have recently weighed in on HWX. Raymond James raised shares of Headwater Exploration to a “hold” rating in a research report on Thursday, October 17th. Atb Cap Markets raised Headwater Exploration to a “strong-buy” rating in a research note on Tuesday, December 3rd. Finally, National Bankshares lowered their price target 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.

Headwater Exploration Stock Performance

Shares of TSE:HWX opened at C$6.81 on Monday. The company has a market capitalization of C$1.62 billion, a price-to-earnings ratio of 8.73, a P/E/G ratio of 0.83 and a beta of 1.55. The firm’s 50 day simple moving average is C$6.77 and its 200 day simple moving average is C$6.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.53 and a quick ratio of 2.07. Headwater Exploration has a fifty-two week low of C$5.88 and a fifty-two week high of C$8.57.

Headwater Exploration Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Tuesday, December 31st. Headwater Exploration’s dividend payout ratio is presently 51.28%.

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.