Headwater Exploration (TSE:HWX) PT Set at C$9.00 by CIBC

Headwater Exploration (TSE:HWX) has been given a C$9.00 target price by equities research analysts at CIBC in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price objective indicates a potential upside of 34.53% from the stock’s previous close.

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

Headwater Exploration Price Performance

HWX stock opened at C$6.69 on Thursday. Headwater Exploration has a one year low of C$5.96 and a one year high of C$8.57. The firm has a 50-day moving average of C$6.84 and a two-hundred day moving average of C$6.81. The firm has a market capitalization of C$1.59 billion, a PE ratio of 8.58, a P/E/G ratio of 0.83 and a beta of 1.55. The company has a current ratio of 1.53, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

Insiders Place Their Bets

In other news, Director Phillip R. Knoll sold 5,400 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of C$6.97, for a total transaction of C$37,638.00. Company insiders own 5.08% of the company’s stock.

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.