Headwater Exploration Inc. (TSE:HWX) Receives Average Rating of "Buy" from Brokerages

Shares of Headwater Exploration Inc. (TSE:HWX - Get Free Report) have received a consensus recommendation of "Buy" from the six analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$9.38.

Several equities research analysts have recently issued reports on HWX shares. National Bankshares decreased their price objective on Headwater Exploration from C$9.50 to C$9.00 and set an "outperform" rating on the stock in a report on Thursday, December 19th. Atb Cap Markets raised Headwater Exploration to a "strong-buy" rating in a research note on Tuesday, December 3rd. Finally, Raymond James raised shares of Headwater Exploration to a "hold" rating in a research note on Thursday, October 17th.

Headwater Exploration Trading Up 1.5 %

Shares of HWX traded up C$0.10 on Monday, hitting C$6.60. 420,437 shares of the stock traded hands, compared to its average volume of 735,304. The firm has a market capitalization of C$1.57 billion, a P/E ratio of 8.46, a P/E/G ratio of 0.83 and a beta of 1.55. 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 has a 1 year low of C$5.88 and a 1 year high of C$8.57. The stock's 50 day moving average is C$6.77 and its two-hundred day moving average is C$6.85.

Headwater Exploration Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.06%. Headwater Exploration's dividend payout ratio (DPR) 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.