Headwater Exploration (OTCMKTS:CDDRF) Trading 3.1% Higher – Should You Buy?

Headwater Exploration Inc. (OTCMKTS:CDDRF)’s share price was up 3.1% on Tuesday . The stock traded as high as $4.97 and last traded at $4.97. Approximately 28,196 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 47,483 shares. The stock had previously closed at $4.83.

Analyst Upgrades and Downgrades

Separately, Raymond James assumed coverage on Headwater Exploration in a report on Friday, October 18th. They set a “market perform” rating and a $8.50 target price on the stock.

Headwater Exploration Stock Up 3.1 %

The stock has a 50 day simple moving average of $4.80 and a 200 day simple moving average of $4.91.

Headwater Exploration Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st were issued a dividend of $0.0721 per share. This represents a dividend yield of 6.54%. The ex-dividend date was Tuesday, December 31st.

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.