Headwater Exploration (TSE:HWX) Sets New 12-Month High at $7.91

Headwater Exploration Inc. (TSE:HWX - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as C$7.91 and last traded at C$7.91, with a volume of 1140630 shares. The stock had previously closed at C$7.75.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. BMO Capital Markets set a C$9.00 price target on Headwater Exploration and gave the stock an "outperform" rating in a report on Thursday, March 21st. Stifel Nicolaus lifted their price target on Headwater Exploration from C$8.50 to C$8.75 in a report on Friday, March 8th. Raymond James dropped their price target on Headwater Exploration from C$10.00 to C$8.00 and set an "outperform" rating for the company in a report on Friday, January 19th. Finally, Desjardins dropped their price objective on Headwater Exploration from C$10.00 to C$8.75 and set a "buy" rating for the company in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$8.70.

Headwater Exploration Stock Up 2.6 %

The firm has a 50 day moving average of C$6.85 and a 200 day moving average of C$6.86. The firm has a market cap of C$1.88 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.83 and a beta of 1.60. The company has a quick ratio of 2.07, a current ratio of 1.64 and a debt-to-equity ratio of 0.14.

Headwater Exploration (TSE:HWX - Get Free Report) last released its earnings results on Thursday, March 7th. The company reported C$0.19 EPS for the quarter, topping the consensus estimate of C$0.18 by C$0.01. The business had revenue of C$138.43 million during the quarter. Headwater Exploration had a return on equity of 27.05% and a net margin of 36.68%. As a group, sell-side analysts predict that Headwater Exploration Inc. will post 0.7601586 earnings per share for the current year.

Headwater Exploration Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.03%. Headwater Exploration's dividend payout ratio is presently 60.61%.

Insider Buying and Selling

In other Headwater Exploration news, Senior Officer Bradley Christman sold 26,102 shares of the firm's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of C$7.72, for a total value of C$201,507.44. In other Headwater Exploration news, Director Chandra Henry sold 10,000 shares of the firm's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of C$7.70, for a total value of C$76,968.00. Also, Senior Officer Bradley Christman sold 26,102 shares of the firm's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of C$7.72, for a total value of C$201,507.44. Over the last three months, insiders have sold 366,229 shares of company stock worth $2,725,587. 4.86% of the stock is owned by company insiders.

About Headwater Exploration

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.