Analysts Set Headwater Exploration Inc. (TSE:HWX) Target Price at C$9.54

Shares of Headwater Exploration Inc. (TSE:HWX) have received a consensus rating of “Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$9.54.

HWX has been the subject of a number of research reports. Atb Cap Markets raised Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. CIBC set a C$9.00 price objective on Headwater Exploration and gave the stock an “outperform” rating in a report on Thursday, January 30th. Raymond James upgraded shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 7th. Finally, National Bankshares decreased their target price on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th.

Headwater Exploration Stock Up 1.3 %

Shares of Headwater Exploration stock opened at C$6.33 on Friday. Headwater Exploration has a 1 year low of C$5.70 and a 1 year high of C$8.57. The company has a market cap of C$1.50 billion, a P/E ratio of 8.11, a P/E/G ratio of 0.83 and a beta of 1.55. The company has a current ratio of 1.54, a quick ratio of 2.07 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of C$6.68 and a 200 day moving average price of C$6.69.

Insiders Place Their Bets

In other news, Director Phillip R. Knoll sold 5,400 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of C$6.97, for a total transaction of C$37,638.00. Company insiders own 5.08% of the company’s stock.

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.