National Bankshares Cuts Headwater Exploration (TSE:HWX) Price Target to C$9.00

Headwater Exploration (TSE:HWX) had its target price cut by National Bankshares from C$9.50 to C$9.00 in a research note released on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other analysts have also recently commented on the company. Atb Cap Markets upgraded Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd. Raymond James raised shares of Headwater Exploration to a “hold” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$9.38.

Headwater Exploration Stock Performance

Shares of TSE HWX opened at C$6.25 on Thursday. The stock has a 50 day moving average of C$6.77 and a 200-day moving average of C$6.87. Headwater Exploration has a 12 month low of C$5.88 and a 12 month high of C$8.57. The company has a market capitalization of C$1.49 billion, a P/E ratio of 8.01, a P/E/G ratio of 0.83 and a beta of 1.55. The company has a current ratio of 1.53, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

Headwater Exploration Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date is Tuesday, December 31st. Headwater Exploration’s payout ratio is 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.