Brokerages Set Headwater Exploration Inc. (TSE:HWX) PT at C$9.38

Headwater Exploration Inc. (TSE:HWX) has been given an average recommendation of “Buy” by the six ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$9.38.

Several brokerages have issued reports on HWX. National Bankshares dropped their target price on Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. Finally, Raymond James upgraded shares of Headwater Exploration to a “hold” rating in a report on Thursday, October 17th.

Headwater Exploration Price Performance

HWX stock opened at C$6.61 on Monday. 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. The firm has a market capitalization of C$1.57 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. The business has a 50 day simple moving average of C$6.76 and a 200-day simple moving average of C$6.83.

Headwater Exploration Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend is Tuesday, December 31st. Headwater Exploration’s dividend payout ratio (DPR) 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.