National Bankshares Raises Headwater Exploration (TSE:HWX) Price Target to C$10.50

Headwater Exploration (TSE:HWX) had its target price hoisted by National Bankshares from C$9.50 to C$10.50 in a research report sent to investors on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus upped their price target on shares of Headwater Exploration from C$8.75 to C$10.00 in a research note on Friday, April 5th. BMO Capital Markets set a C$9.00 target price on shares of Headwater Exploration and gave the company an outperform rating in a research note on Thursday, March 21st. Desjardins reduced their target price on shares of Headwater Exploration from C$10.00 to C$8.75 and set a buy rating on the stock in a research note on Tuesday, January 23rd. Raymond James reduced their target price on shares of Headwater Exploration from C$10.00 to C$8.00 and set an outperform rating on the stock in a research note on Friday, January 19th. Finally, Haywood Securities increased their target price on shares of Headwater Exploration from C$9.00 to C$10.00 in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of C$9.32.

Headwater Exploration Price Performance

HWX stock opened at C$7.71 on Friday. Headwater Exploration has a one year low of C$5.76 and a one year high of C$8.57. The company’s fifty day moving average price is C$7.36 and its 200-day moving average price is C$6.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.07 and a current ratio of 1.64. The company has a market capitalization of C$1.82 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 0.83 and a beta of 1.60.

Headwater Exploration (TSE:HWX) last released its quarterly earnings results on Thursday, March 7th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01. The company had revenue of C$138.43 million for the quarter. Headwater Exploration had a net margin of 36.68% and a return on equity of 27.05%. On average, equities analysts anticipate that Headwater Exploration will post 0.8199419 EPS for the current fiscal year.

Headwater Exploration Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date was Wednesday, March 27th. Headwater Exploration’s payout ratio is presently 60.61%.

Insider Transactions at Headwater Exploration

In other Headwater Exploration news, Director Stephen Phillip Larke sold 50,000 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of C$8.17, for a total transaction of C$408,445.00. In other Headwater Exploration news, Director Kevin Olson sold 100,000 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of C$8.42, for a total transaction of C$842,050.00. Also, Director Stephen Phillip Larke sold 50,000 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of C$8.17, for a total transaction of C$408,445.00. Over the last ninety days, insiders have sold 520,629 shares of company stock worth $4,037,876. Insiders own 4.86% of the company’s stock.

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.