Headwater Exploration Inc. (TSE:HWX) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Headwater Exploration Inc. (TSE:HWX - Get Free Report) have received an average rating of "Moderate Buy" from the six analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$9.39.

A number of equities analysts have recently issued reports on the company. National Bankshares dropped their price target on Headwater Exploration from C$10.50 to C$9.50 in a research note on Friday, September 27th. Desjardins raised their target price on Headwater Exploration from C$8.00 to C$9.25 and gave the stock a "buy" rating in a research report on Monday, July 29th.

Headwater Exploration Price Performance

HWX remained flat at C$6.94 during midday trading on Friday. 473,371 shares of the company's stock traded hands, compared to its average volume of 746,763. The firm has a 50 day moving average of C$6.65 and a 200-day moving average of C$7.20. The company has a quick ratio of 2.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.13. The firm has a market cap of C$1.65 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 0.83 and a beta of 1.55. Headwater Exploration has a 1-year low of C$5.88 and a 1-year high of C$8.57.

Headwater Exploration (TSE:HWX - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported C$0.22 earnings per share for the quarter. Headwater Exploration had a net margin of 38.54% and a return on equity of 30.64%. The company had revenue of C$164.28 million for the quarter. On average, sell-side analysts predict that Headwater Exploration will post 0.6296296 earnings per share for the current fiscal year.

Headwater Exploration Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.76%. The ex-dividend date is Friday, September 27th. Headwater Exploration's dividend payout ratio is presently 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.