CIBC Reiterates “C$9.00” Price Target for Headwater Exploration (TSE:HWX)

CIBC set a C$9.00 price target on Headwater Exploration (TSE:HWXFree Report) in a research report sent to investors on Monday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on HWX. National Bankshares dropped their price objective on 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. Raymond James raised Headwater Exploration from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 7th. Finally, Atb Cap Markets raised Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$9.54.

View Our Latest Report on HWX

Headwater Exploration Stock Performance

HWX opened at C$7.09 on Monday. The business has a fifty day simple moving average of C$6.85 and a 200 day simple moving average of C$6.83. The company has a market capitalization of C$1.68 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. Headwater Exploration has a 1 year low of C$5.96 and a 1 year high of C$8.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.53 and a quick ratio of 2.07.

Headwater Exploration Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.40 annualized dividend and a dividend yield of 5.64%. Headwater Exploration’s payout ratio is 51.28%.

Insider Buying and Selling

In related news, Director Phillip R. Knoll sold 5,400 shares of the company’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. 5.08% of the stock is owned by company insiders.

Headwater Exploration Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Headwater Exploration (TSE:HWX)

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