Headwater Exploration Inc. to Issue Quarterly Dividend of $0.10 (TSE:HWX)

Headwater Exploration Inc. (TSE:HWX) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.10 per share on Monday, July 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date is Friday, June 28th.

Headwater Exploration Trading Up 0.4 %

TSE HWX opened at C$7.29 on Wednesday. Headwater Exploration has a 12 month low of C$5.88 and a 12 month high of C$8.57. The company has a 50-day moving average of C$7.41 and a 200-day moving average of C$7.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.42 and a quick ratio of 2.07. The company has a market cap of C$1.73 billion, a P/E ratio of 10.57, a P/E/G ratio of 0.83 and a beta of 1.63.

Headwater Exploration (TSE:HWX) last issued its earnings results on Thursday, May 9th. The company reported C$0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.16. Headwater Exploration had a return on equity of 27.82% and a net margin of 36.47%. The business had revenue of C$134.03 million during the quarter. As a group, equities analysts predict that Headwater Exploration will post 0.7362525 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HWX shares. Haywood Securities boosted their target price on Headwater Exploration from C$9.00 to C$10.00 in a report on Monday, April 8th. BMO Capital Markets boosted their target price on Headwater Exploration from C$9.00 to C$10.00 in a report on Friday, May 10th. National Bankshares boosted their target price on Headwater Exploration from C$9.50 to C$10.50 and gave the stock an “outperform” rating in a report on Friday, April 19th. Finally, Stifel Nicolaus boosted their target price on Headwater Exploration from C$8.75 to C$10.00 in a report on Friday, April 5th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Headwater Exploration has an average rating of “Moderate Buy” and an average target price of C$9.46.

Insider Activity

In other news, Director Kevin Olson sold 100,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of C$8.42, for a total transaction of C$842,050.00. In related news, Senior Officer Bradley Christman sold 26,102 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of C$7.72, for a total transaction of C$201,507.44. Also, Director Kevin Olson sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of C$8.42, for a total value of C$842,050.00. In the last three months, insiders sold 333,379 shares of company stock worth $2,592,538. 5.12% of the stock is currently owned by 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.