Headwater Exploration Inc. (TSE:HWX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Headwater Exploration Inc. (TSE:HWX) have earned an average rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$9.54.

Separately, Desjardins raised their price objective on Headwater Exploration from C$8.00 to C$9.25 and gave the company a “buy” rating in a research report on Monday, July 29th.

Headwater Exploration Stock Performance

Shares of HWX stock opened at C$6.55 on Monday. The firm has a market cap of C$1.56 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 0.83 and a beta of 1.58. Headwater Exploration has a 52-week low of C$5.88 and a 52-week high of C$8.57. The company has a quick ratio of 2.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is C$6.85 and its 200 day moving average is C$7.27.

Headwater Exploration (TSE:HWX) last announced its earnings results on Thursday, July 25th. The company reported C$0.22 earnings per share (EPS) for the quarter. The business had revenue of C$164.28 million for the quarter. Headwater Exploration had a return on equity of 30.64% and a net margin of 38.54%. On average, sell-side analysts anticipate that Headwater Exploration will post 0.5944444 EPS for the current fiscal year.

Headwater Exploration Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.11%. Headwater Exploration’s payout ratio is 51.28%.

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.