Headwater Exploration (TSE:HWX) Releases Earnings Results

Headwater Exploration (TSE:HWX) announced its quarterly earnings data on Thursday. The company reported C$0.36 earnings per share for the quarter, FiscalAI reports. Headwater Exploration had a net margin of 24.12% and a return on equity of 18.54%. The business had revenue of C$227.67 million for the quarter.

Headwater Exploration Stock Up 1.8%

TSE:HWX traded up C$0.24 during trading hours on Thursday, hitting C$13.30. The stock had a trading volume of 481,600 shares, compared to its average volume of 815,863. The company has a market cap of C$3.16 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 0.83 and a beta of 0.61. The business has a 50 day simple moving average of C$12.60 and a two-hundred day simple moving average of C$12.14. Headwater Exploration has a 1-year low of C$6.58 and a 1-year high of C$13.82. The company has a current ratio of 0.98, a quick ratio of 2.07 and a debt-to-equity ratio of 0.27.

Headwater Exploration Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.48 annualized dividend and a yield of 3.6%. Headwater Exploration’s dividend payout ratio (DPR) is 75.86%.

Wall Street Analysts Forecast Growth

Separately, Desjardins set a C$14.50 price objective on Headwater Exploration and gave the stock a “hold” rating in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Headwater Exploration currently has a consensus rating of “Moderate Buy” and an average target price of C$12.07.

Insider Buying and Selling at Headwater Exploration

In other news, Director Karen Nielsen bought 6,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of C$12.90 per share, for a total transaction of C$77,400.00. Following the completion of the purchase, the director owned 6,000 shares of the company’s stock, valued at C$77,400. This trade represents a ∞ increase in their ownership of the stock. Also, Director Kevin Olson sold 100,000 shares of Headwater Exploration stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of C$13.32, for a total transaction of C$1,332,000.00. Following the sale, the director directly owned 2,820,179 shares in the company, valued at C$37,564,784.28. This trade represents a 3.42% decrease in their position. 5.08% of the stock is currently owned by corporate insiders.

Headwater Exploration Company Profile

Headwater Exploration Inc is an oil and gas exploration and development company. It is engaged in the exploration, development, and production of petroleum and natural gas onshore in McCully Field, New Brunswick and Marten Hills, Alberta. The firm generates substantial revenue from the sale of commodities which include crude oil, natural gas and natural gas liquids.