Headwater Exploration (TSE:HWX) Stock Price Down 1.5% - Here's What Happened

Headwater Exploration Inc. (TSE:HWX - Get Free Report) shares dropped 1.5% during mid-day trading on Monday . The company traded as low as C$6.75 and last traded at C$6.78. Approximately 236,005 shares traded hands during trading, a decline of 68% from the average daily volume of 744,789 shares. The stock had previously closed at C$6.88.

Analyst Upgrades and Downgrades

HWX has been the topic of a number of research reports. Raymond James upgraded shares of Headwater Exploration to a "hold" rating in a research report on Thursday, October 17th. National Bankshares lowered their target price on shares of Headwater Exploration from C$10.50 to C$9.50 in a research report on Friday, September 27th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$9.46.

Headwater Exploration Trading Up 2.2 %

The business's 50-day moving average is C$6.76 and its two-hundred day moving average is C$6.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 1.53. The stock has a market capitalization of C$1.65 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55.

Headwater Exploration Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date of this dividend is Tuesday, December 31st. Headwater Exploration's dividend payout ratio (DPR) is currently 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.