Raymond James Upgrades Headwater Exploration (TSE:HWX) to “Hold”

Raymond James upgraded shares of Headwater Exploration (TSE:HWX) to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

Several other research analysts also recently issued reports on the company. National Bankshares lowered their price objective on Headwater Exploration from C$10.50 to C$9.50 in a research note on Friday, September 27th. Desjardins increased their price target on Headwater Exploration from C$8.00 to C$9.25 and gave the company a “buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$9.39.

Headwater Exploration Trading Up 0.3 %

Shares of HWX opened at C$6.50 on Thursday. 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$5.88 and a 52-week high of C$8.57. The firm has a market cap of C$1.54 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.83 and a beta of 1.55. The business’s fifty day moving average is C$6.65 and its 200-day moving average is C$7.16.

Headwater Exploration (TSE:HWX) last issued its quarterly earnings data on Thursday, July 25th. The company reported C$0.22 EPS for the quarter. Headwater Exploration had a net margin of 38.54% and a return on equity of 30.64%. The business had revenue of C$164.28 million during the quarter. Equities analysts anticipate that Headwater Exploration will post 0.6296296 EPS for the current fiscal year.

Headwater Exploration Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were issued a $0.10 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.15%. Headwater Exploration’s dividend payout ratio is presently 51.28%.

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.