Headwater Exploration (TSE:HWX) Lowered to Hold Rating by Desjardins

Headwater Exploration (TSE:HWX - Get Free Report) was downgraded by stock analysts at Desjardins from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a C$7.25 price target on the stock, down from their prior price target of C$8.25. Desjardins' price objective suggests a potential upside of 13.64% from the stock's current price.

Several other research firms have also recently weighed in on HWX. Raymond James raised shares of Headwater Exploration from a "market perform" rating to an "outperform" rating in a research note on Tuesday, January 7th. National Bankshares lowered 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. CIBC set a C$9.00 target price on shares of Headwater Exploration and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, Atb Cap Markets upgraded Headwater Exploration to a "strong-buy" rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of C$9.21.

Headwater Exploration Stock Down 0.9 %

Shares of TSE:HWX traded down C$0.06 during midday trading on Wednesday, reaching C$6.38. The company had a trading volume of 452,902 shares, compared to its average volume of 720,663. Headwater Exploration has a 1-year low of C$5.70 and a 1-year high of C$8.57. The stock has a market cap of C$1.51 billion, a PE ratio of 8.18, 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 1.54 and a debt-to-equity ratio of 0.12. The business's 50 day moving average price is C$6.61 and its 200 day moving average price is C$6.68.

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Insider Activity at Headwater Exploration

In related news, Director Phillip R. Knoll sold 5,400 shares of the business's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of C$6.97, for a total value of C$37,638.00. 5.08% of the stock is owned by company 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.