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

Headwater Exploration Inc. (TSE:HWX) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$9.39.

HWX has been the subject of several analyst reports. National Bankshares decreased their price objective on Headwater Exploration from C$10.50 to C$9.50 in a report on Friday, September 27th. Desjardins upped their price objective on Headwater Exploration from C$8.00 to C$9.25 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Raymond James raised shares of Headwater Exploration to a “hold” rating in a report on Thursday, October 17th.

Headwater Exploration Trading Up 2.5 %

Shares of Headwater Exploration stock opened at C$6.90 on Tuesday. The stock has a market cap of C$1.64 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. The firm has a fifty day moving average price of C$6.64 and a 200 day moving average price of C$7.04. Headwater Exploration has a 1 year low of C$5.88 and a 1 year high of C$8.57. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.80%. The ex-dividend date was Friday, September 27th. Headwater Exploration’s payout ratio is 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.