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

Headwater Exploration Inc. (TSE:HWX) has received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$9.32.

A number of equities analysts have weighed in on the stock. Desjardins cut their price target on shares of Headwater Exploration from C$10.00 to C$8.75 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Haywood Securities increased their price target on shares of Headwater Exploration from C$9.00 to C$10.00 in a research note on Monday, April 8th. National Bankshares increased their price target on shares of Headwater Exploration from C$9.50 to C$10.50 and gave the stock an “outperform” rating in a research note on Friday, April 19th. BMO Capital Markets set a C$9.00 price target on shares of Headwater Exploration and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Finally, Stifel Nicolaus increased their price target on shares of Headwater Exploration from C$8.75 to C$10.00 in a research note on Friday, April 5th.

Headwater Exploration Stock Performance

Shares of HWX opened at C$7.79 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.07 and a current ratio of 1.64. The company has a market capitalization of C$1.84 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.83 and a beta of 1.60. Headwater Exploration has a 1 year low of C$5.76 and a 1 year high of C$8.57. The company’s 50 day simple moving average is C$7.48 and its 200 day simple moving average is C$6.98.

Headwater Exploration (TSE:HWX) last posted its quarterly earnings results on Thursday, March 7th. The company reported C$0.19 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.18 by C$0.01. The company had revenue of C$138.43 million for the quarter. Headwater Exploration had a net margin of 36.68% and a return on equity of 27.05%. On average, sell-side analysts predict that Headwater Exploration will post 0.8199419 EPS for the current year.

Headwater Exploration Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend was Wednesday, March 27th. Headwater Exploration’s dividend payout ratio is presently 60.61%.

Insider Activity

In related news, Senior Officer Terry Ryan Danku sold 250,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of C$7.45, for a total transaction of C$1,862,700.00. In related news, Senior Officer Terry Ryan Danku sold 250,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of C$7.45, for a total transaction of C$1,862,700.00. Also, Director Stephen Phillip Larke sold 50,000 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of C$8.17, for a total transaction of C$408,445.00. In the last 90 days, insiders have sold 520,629 shares of company stock valued at $4,037,876. Company insiders own 4.86% of the company’s stock.

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.