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

Shares of Headwater Exploration Inc. (TSE:HWX) have been given an average recommendation of “Buy” by the six research firms that are covering the company, Marketbeat Ratings 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 equities analysts have recently commented on HWX shares. Atb Cap Markets raised Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd. CIBC set a C$9.00 price target on shares of Headwater Exploration and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Raymond James raised shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 7th. Finally, National Bankshares lowered their target price on shares of 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.

Insider Activity

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

Headwater Exploration Price Performance

Shares of Headwater Exploration stock opened at C$6.74 on Tuesday. The business’s fifty day moving average price is C$6.80 and its 200 day moving average price is C$6.76. The stock has a market capitalization of C$1.60 billion, a P/E ratio of 8.64, a PEG ratio of 0.83 and a beta of 1.55. Headwater Exploration has a twelve month low of C$6.15 and a twelve month high of C$8.57. The company has a current ratio of 1.54, a quick ratio of 2.07 and a debt-to-equity ratio of 0.12.

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.