Headwater Exploration Inc. (TSE:HWX) Receives C$9.54 Average Price Target from Brokerages

Headwater Exploration Inc. (TSE:HWX) has been given an average rating of “Buy” by the six research firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$9.54.

HWX has been the topic of several research analyst reports. CIBC set a C$9.00 price objective on Headwater Exploration and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. National Bankshares decreased their price target on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Raymond James upgraded shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 7th.

Headwater Exploration Trading Down 3.1 %

TSE:HWX opened at C$6.64 on Tuesday. The company has a market cap of C$1.57 billion, a PE ratio of 8.51, a P/E/G ratio of 0.83 and a beta of 1.55. The business’s 50 day moving average is C$6.81 and its two-hundred day moving average is C$6.76. The company has a quick ratio of 2.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.12. Headwater Exploration has a 52 week low of C$6.15 and a 52 week high of C$8.57.

Insider Buying and Selling

In other news, Director Phillip R. Knoll sold 5,400 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of C$6.97, for a total transaction of C$37,638.00. Corporate insiders own 5.08% 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.