Insider Selling: Headwater Exploration Inc. (TSE:HWX) Director Sells 5,400 Shares of Stock

Headwater Exploration Inc. (TSE:HWX) Director Phillip R. Knoll sold 5,400 shares of Headwater Exploration stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total transaction of C$37,638.00.

Headwater Exploration Stock Performance

Shares of HWX opened at C$7.01 on Friday. 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 stock has a market cap of C$1.67 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.83 and a beta of 1.55. The business’s 50 day moving average price is C$6.83 and its 200-day moving average price is C$6.84. Headwater Exploration Inc. has a 52 week low of C$5.88 and a 52 week high of C$8.57.

Headwater Exploration Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.10 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.71%. Headwater Exploration’s dividend payout ratio is currently 51.28%.

Analyst Ratings Changes

Several analysts have commented on the stock. Raymond James upgraded shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 7th. Atb Cap Markets upgraded Headwater Exploration to a “strong-buy” rating in a research note on Tuesday, December 3rd. Finally, National Bankshares reduced their price target on 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. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Headwater Exploration presently has a consensus rating of “Buy” and an average target price of C$9.38.

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.