Headwater Exploration Inc. (TSE:HWX) Receives C$9.54 Average PT from Analysts

Headwater Exploration Inc. (TSE:HWX) has been given an average rating of “Buy” by the six analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is C$9.21.

A number of equities research analysts recently weighed in on the company. Raymond James upgraded Headwater Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 7th. CIBC set a C$9.00 price target on Headwater Exploration and gave the company an “outperform” rating in a research note on Thursday, January 30th. National Bankshares dropped their price target on 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. Desjardins cut Headwater Exploration from a “buy” rating to a “hold” rating and dropped their price target for the company from C$8.25 to C$7.25 in a research note on Wednesday. Finally, Atb Cap Markets upgraded Headwater Exploration to a “strong-buy” rating in a research note on Tuesday, December 3rd.

Insiders Place Their Bets

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 value of C$37,638.00. Company insiders own 5.08% of the company’s stock.

Headwater Exploration Stock Up 1.4 %

HWX opened at C$6.36 on Friday. Headwater Exploration has a 1-year low of C$5.70 and a 1-year high of C$8.57. The stock’s fifty day simple moving average is C$6.65 and its 200 day simple moving average is C$6.68. The company has a current ratio of 1.54, a quick ratio of 2.07 and a debt-to-equity ratio of 0.12. The stock has a market cap of C$1.51 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55.

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.