Insider Selling: Headwater Exploration Inc. (TSE:HWX) Director Sells C$408,445.00 in Stock

Headwater Exploration Inc. (TSE:HWX) Director Stephen Phillip Larke sold 50,000 shares of Headwater Exploration stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of C$8.17, for a total transaction of C$408,445.00.

Headwater Exploration Trading Down 0.8 %

Shares of HWX opened at C$7.87 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.07 and a current ratio of 1.64. The company’s fifty day moving average is C$7.30 and its 200 day moving average is C$6.94. The stock has a market capitalization of C$1.86 billion, a PE ratio of 11.92, a P/E/G ratio of 0.83 and a beta of 1.60. Headwater Exploration Inc. has a fifty-two week low of C$5.76 and a fifty-two week high of C$8.57.

Headwater Exploration (TSE:HWX) last posted its quarterly earnings data on Thursday, March 7th. The company reported C$0.19 EPS for the quarter, topping the consensus estimate of C$0.18 by C$0.01. The company had revenue of C$138.43 million during the quarter. Headwater Exploration had a net margin of 36.68% and a return on equity of 27.05%. Sell-side analysts expect that Headwater Exploration Inc. will post 0.8199419 earnings per share for the current fiscal year.

Headwater Exploration Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.08%. The ex-dividend date was Wednesday, March 27th. Headwater Exploration’s payout ratio is 60.61%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HWX. Stifel Nicolaus lifted their price objective on shares of Headwater Exploration from C$8.75 to C$10.00 in a research report on Friday, April 5th. Desjardins reduced their price objective on shares of Headwater Exploration from C$10.00 to C$8.75 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Haywood Securities boosted their price target on shares of Headwater Exploration from C$9.00 to C$10.00 in a research report on Monday, April 8th. Raymond James reduced their price target on shares of Headwater Exploration from C$10.00 to C$8.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. Finally, BMO Capital Markets set a C$9.00 price target on shares of Headwater Exploration and gave the stock an “outperform” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$9.13.

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.