Headwater Exploration Inc. (TSE:HWX) Director Stephen Phillip Larke Sells 50,000 Shares

Headwater Exploration Inc. (TSE:HWX) Director Stephen Phillip Larke sold 50,000 shares of Headwater Exploration stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of C$8.17, for a total transaction of C$408,445.00.

Headwater Exploration Stock Down 2.3 %

Shares of HWX stock traded down C$0.19 on Monday, reaching C$7.94. 289,129 shares of the stock were exchanged, compared to its average volume of 751,455. The company has a current ratio of 1.64, a quick ratio of 2.07 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average price is C$7.20 and its 200 day moving average price is C$6.93. The company has a market capitalization of C$1.88 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.83 and a beta of 1.60. Headwater Exploration Inc. has a twelve month low of C$5.76 and a twelve month high of C$8.57.

Headwater Exploration (TSE:HWX) last issued its earnings results on Thursday, March 7th. The company reported C$0.19 EPS for the quarter, topping analysts’ consensus estimates of C$0.18 by C$0.01. The firm had revenue of C$138.43 million during the quarter. Headwater Exploration had a net margin of 36.68% and a return on equity of 27.05%. As a group, sell-side analysts expect that Headwater Exploration Inc. will post 0.8199419 earnings per share for the current fiscal year.

Headwater Exploration Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a dividend of $0.10 per share. 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 5.04%. Headwater Exploration’s payout ratio is currently 60.61%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Headwater Exploration from C$8.75 to C$10.00 in a research report 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 report on Thursday, March 21st. Haywood Securities lifted their target price on shares of Headwater Exploration from C$9.00 to C$10.00 in a report on Monday, April 8th. Desjardins dropped their target price on shares of 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. Finally, Raymond James dropped their target price on shares of 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Headwater Exploration has an average rating of “Moderate Buy” and a consensus price target of C$9.13.

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.