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

Shares of Headwater Exploration Inc. (TSE:HWX) have earned an average recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$9.38.

HWX has been the subject of several analyst reports. Raymond James upgraded Headwater Exploration to a “hold” rating in a report on Thursday, October 17th. National Bankshares reduced their price objective on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Finally, Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a research note on Tuesday, December 3rd.

Headwater Exploration Stock Performance

Headwater Exploration stock opened at C$6.50 on Monday. The stock’s 50 day moving average is C$6.77 and its 200 day moving average is C$6.85. The company has a market capitalization of C$1.54 billion, a P/E ratio of 8.33, a PEG ratio of 0.83 and a beta of 1.55. Headwater Exploration has a twelve month low of C$5.88 and a twelve month high of C$8.57. The company has a quick ratio of 2.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.13.

Headwater Exploration Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.15%. The ex-dividend date is Tuesday, December 31st. Headwater Exploration’s dividend payout ratio is currently 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.