Headwater Exploration Inc. (TSE:HWX) Receives C$9.38 Consensus Price Target from Brokerages

Shares of Headwater Exploration Inc. (TSE:HWX) have been given a consensus recommendation of “Buy” by the six analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$9.38.

A number of analysts have weighed in on HWX shares. Atb Cap Markets raised Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. Raymond James upgraded shares of Headwater Exploration to a “hold” rating in a research report on Thursday, October 17th. Finally, National Bankshares cut their price target on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a report on Thursday, December 19th.

Headwater Exploration Trading Up 1.0 %

TSE HWX opened at C$6.81 on Monday. Headwater Exploration has a one year low of C$5.88 and a one year high of C$8.57. The firm has a market cap of C$1.62 billion, a PE ratio of 8.73, a P/E/G ratio of 0.83 and a beta of 1.55. The firm’s fifty day moving average is C$6.76 and its two-hundred day moving average is C$6.83. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.40 annualized dividend and a yield of 5.87%. Headwater Exploration’s dividend payout ratio is presently 51.28%.

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.