Headwater Exploration (TSE:HWX) Given a C$9.00 Price Target by CIBC Analysts

CIBC set a C$9.00 price objective on Headwater Exploration (TSE:HWX) in a research note issued to investors on Monday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. National Bankshares decreased their target price on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Raymond James upgraded Headwater Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 7th. Finally, Atb Cap Markets raised Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$9.54.

Headwater Exploration Stock Performance

Headwater Exploration stock opened at C$7.29 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 1.53. Headwater Exploration has a one year low of C$5.96 and a one year high of C$8.57. The stock’s 50 day moving average price is C$6.83 and its 200 day moving average price is C$6.83. The firm has a market capitalization of C$1.73 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55.

Headwater Exploration Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.49%. The ex-dividend date was Tuesday, December 31st. Headwater Exploration’s dividend payout ratio is currently 51.28%.

Insider Buying and Selling at Headwater Exploration

In other Headwater Exploration 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 currently owned by insiders.

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.