Brokerages Set Headwater Exploration Inc. (TSE:HWX) Target Price at C$9.39

Shares of Headwater Exploration Inc. (TSE:HWX) have received an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$9.39.

A number of research firms have weighed in on HWX. Desjardins upped their target price on Headwater Exploration from C$8.00 to C$9.25 and gave the stock a “buy” rating in a report on Monday, July 29th. National Bankshares reduced their price target on Headwater Exploration from C$10.50 to C$9.50 in a research report on Friday, September 27th.

Headwater Exploration Stock Performance

HWX opened at C$6.94 on Friday. The stock has a market cap of C$1.65 billion, a price-to-earnings ratio of 8.90, a P/E/G ratio of 0.83 and a beta of 1.55. The stock’s 50 day moving average price is C$6.66 and its 200-day moving average price is C$7.20. Headwater Exploration has a one year low of C$5.88 and a one year high of C$8.57. 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 (TSE:HWX) last announced its quarterly earnings results on Thursday, July 25th. The company reported C$0.22 earnings per share (EPS) for the quarter. The firm had revenue of C$164.28 million during the quarter. Headwater Exploration had a return on equity of 30.64% and a net margin of 38.54%. On average, equities analysts forecast that Headwater Exploration will post 0.6296296 EPS for the current year.

Headwater Exploration Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.76%. The ex-dividend date of this dividend is 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.