Headwater Exploration (TSE:HWX) Stock Price Up 0.2%

Headwater Exploration Inc. (TSE:HWX)’s stock price rose 0.2% on Thursday . The company traded as high as C$6.44 and last traded at C$6.35. Approximately 965,910 shares changed hands during mid-day trading, an increase of 48% from the average daily volume of 652,188 shares. The stock had previously closed at C$6.34.

Analyst Ratings Changes

Separately, Desjardins lifted their price target on shares of Headwater Exploration from C$8.00 to C$9.25 and gave the company a “buy” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$9.54.

Headwater Exploration Price Performance

The company has a 50-day moving average of C$6.94 and a 200 day moving average of C$7.28. 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 firm has a market cap of C$1.51 billion, a P/E ratio of 8.14, a P/E/G ratio of 0.83 and a beta of 1.58.

Headwater Exploration (TSE:HWX) last announced its earnings results on Thursday, July 25th. The company reported C$0.22 earnings per share (EPS) for the quarter. The business had revenue of C$164.28 million during the quarter. Headwater Exploration had a net margin of 38.54% and a return on equity of 30.64%. On average, sell-side analysts anticipate that Headwater Exploration Inc. will post 0.6342593 EPS for the current year.

Headwater Exploration Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, September 27th. This represents a $0.40 annualized dividend and a yield of 6.30%. Headwater Exploration’s dividend payout ratio (DPR) is 51.28%.

Insiders Place Their Bets

In related news, Director Chandra Henry sold 19,300 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$7.05, for a total value of C$136,070.79. Insiders own 5.08% of the company’s stock.

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.