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

Shares of Headwater Exploration Inc. (TSE:HWX) have earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$9.54.

A number of analysts have weighed in on the stock. CIBC set a C$9.00 target price 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. National Bankshares decreased 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 note on Thursday, December 19th. Finally, Atb Cap Markets raised shares of Headwater Exploration to a “strong-buy” rating in a research note on Tuesday, December 3rd.

Headwater Exploration Stock Performance

TSE HWX opened at C$6.66 on Tuesday. The firm’s fifty day moving average price is C$6.81 and its two-hundred day moving average price is C$6.76. The stock has a market cap of C$1.58 billion, a PE ratio of 8.54, a PEG ratio of 0.83 and a beta of 1.55. Headwater Exploration has a fifty-two week low of C$6.15 and a fifty-two week high of C$8.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.07 and a current ratio of 1.54.

Insider Buying and Selling

In related news, Director Phillip R. Knoll sold 5,400 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total value 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.