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

Headwater Exploration Inc. (TSE:HWX) has received a consensus rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$9.54.

Several analysts have weighed in on HWX shares. Raymond James upgraded Headwater Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 7th. National Bankshares dropped their target price on Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. CIBC 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, January 30th. Finally, Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a research note on Tuesday, December 3rd.

Headwater Exploration Price Performance

Shares of HWX opened at C$6.25 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07. The company’s fifty day moving average price is C$6.69 and its 200-day moving average price is C$6.70. Headwater Exploration has a 1-year low of C$5.70 and a 1-year high of C$8.57. The firm has a market capitalization of C$1.48 billion, a PE ratio of 8.01, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55.

Insider Activity at Headwater Exploration

In related news, Director Phillip R. Knoll sold 5,400 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total transaction of C$37,638.00. 5.08% of the stock is 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.