Headwater Exploration (TSE:HWX) Upgraded to “Outperform” at Raymond James

Raymond James upgraded shares of Headwater Exploration (TSE:HWX) from a market perform rating to an outperform rating in a research report report published on Tuesday morning,BayStreet.CA reports.

Several other research analysts have also commented on the company. Atb Cap Markets upgraded Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. National Bankshares reduced their price target on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Headwater Exploration presently has an average rating of “Buy” and a consensus target price of C$9.38.

Headwater Exploration Stock Up 4.8 %

TSE:HWX opened at C$7.19 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 1.53. The company has a market capitalization of C$1.71 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. Headwater Exploration has a one year low of C$5.88 and a one year high of C$8.57. The stock has a 50-day simple moving average of C$6.78 and a 200 day simple moving average of C$6.83.

Headwater Exploration Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date is Tuesday, December 31st. Headwater Exploration’s dividend payout ratio is currently 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.