Headwater Exploration Inc. (TSE:HWX) Receives Average Recommendation of “Buy” from Analysts

Headwater Exploration Inc. (TSE:HWX) has been assigned an average recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is C$9.21.

Several brokerages have commented on HWX. Desjardins downgraded Headwater Exploration from a “buy” rating to a “hold” rating and lowered their price target for the company from C$8.25 to C$7.25 in a report on Wednesday. Raymond James raised Headwater Exploration from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 7th. Atb Cap Markets raised Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. National Bankshares reduced their price objective on Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, CIBC set a C$9.00 target price on Headwater Exploration and gave the stock an “outperform” rating in a research report on Thursday, January 30th.

Headwater Exploration Trading Up 1.4 %

Shares of HWX stock opened at C$6.36 on Friday. Headwater Exploration has a 12 month low of C$5.70 and a 12 month high of C$8.57. The company has a quick ratio of 2.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is C$6.65 and its two-hundred day moving average is C$6.68. The company has a market cap of C$1.51 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55.

Insider Activity

In other Headwater Exploration news, Director Phillip R. Knoll sold 5,400 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of C$6.97, for a total transaction of C$37,638.00. 5.08% of the stock is currently owned by company insiders.

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.