Headwater Exploration (TSE:HWX) Stock Rating Lowered by Desjardins

Headwater Exploration (TSE:HWX) was downgraded by research analysts at Desjardins from a “buy” rating to a “hold” rating in a report released on Wednesday, MarketBeat reports. They currently have a C$7.25 target price on the stock, down from their prior target price of C$8.25. Desjardins’ price target points to a potential upside of 12.58% from the stock’s current price.

A number of other equities analysts also recently issued reports on HWX. Raymond James upgraded shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 7th. CIBC set a C$9.00 price objective on shares of Headwater Exploration and gave the company an “outperform” rating in a research note on Thursday, January 30th. Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a research note on Tuesday, December 3rd. Finally, National Bankshares dropped their price objective on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Headwater Exploration currently has a consensus rating of “Buy” and an average price target of C$9.21.

Headwater Exploration Price Performance

Shares of HWX stock opened at C$6.44 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07. The company has a market capitalization of C$1.53 billion, a P/E ratio of 8.26, a P/E/G ratio of 0.83 and a beta of 1.55. The company’s 50-day simple moving average is C$6.63 and its two-hundred day simple moving average is C$6.68. Headwater Exploration has a one year low of C$5.70 and a one year high of C$8.57.

Insider Activity at Headwater Exploration

In related news, Director Phillip R. Knoll sold 5,400 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total transaction of C$37,638.00. 5.08% of the stock is currently owned by corporate insiders.

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.