Headwater Exploration (TSE:HWX) Trading Down 1.5% – What’s Next?

Headwater Exploration Inc. (TSE:HWX) shares were down 1.5% during mid-day trading on Monday . The stock traded as low as C$6.75 and last traded at C$6.78. Approximately 236,005 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 744,789 shares. The stock had previously closed at C$6.88.

Analyst Upgrades and Downgrades

Several analysts have commented on HWX shares. National Bankshares decreased their price target on shares of Headwater Exploration from C$10.50 to C$9.50 in a research report on Friday, September 27th. Raymond James raised shares of Headwater Exploration to a “hold” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$9.46.

Headwater Exploration Stock Performance

The company has a current ratio of 1.53, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average price is C$6.76 and its two-hundred day moving average price is C$6.95. The stock has a market capitalization of C$1.61 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55.

Headwater Exploration Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date of this dividend is Tuesday, December 31st. Headwater Exploration’s dividend payout ratio (DPR) is presently 51.28%.

Headwater Exploration Company Profile

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.