Headwater Exploration (TSE:HWX) Stock Rating Upgraded by Raymond James

Raymond James upgraded shares of Headwater Exploration (TSE:HWX - Free Report) to a hold rating in a research report released on Thursday morning, Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. National Bankshares cut their price objective on shares of Headwater Exploration from C$10.50 to C$9.50 in a report on Friday, September 27th. Desjardins upped their price target on Headwater Exploration from C$8.00 to C$9.25 and gave the stock a "buy" rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Headwater Exploration currently has a consensus rating of "Moderate Buy" and an average price target of C$9.39.

Headwater Exploration Stock Up 0.3 %

Shares of HWX traded up C$0.02 on Thursday, reaching C$6.50. The stock had a trading volume of 1,398,038 shares, compared to its average volume of 759,125. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 1.53. Headwater Exploration has a 12-month low of C$5.88 and a 12-month high of C$8.57. The firm has a market capitalization of C$1.54 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. The company has a 50-day simple moving average of C$6.65 and a 200-day simple moving average of C$7.16.

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

Headwater Exploration Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, September 27th. This represents a $0.40 annualized dividend and a yield of 6.15%. Headwater Exploration's dividend payout ratio 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.