National Bankshares Increases Headwater Exploration (TSE:HWX) Price Target to C$10.50

Headwater Exploration (TSE:HWX) had its price target upped by research analysts at National Bankshares from C$9.50 to C$10.50 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price target suggests a potential upside of 34.96% from the stock’s previous close.

Several other analysts also recently commented on HWX. Haywood Securities raised their price objective on shares of Headwater Exploration from C$9.00 to C$10.00 in a research report on Monday, April 8th. Stifel Nicolaus raised their price objective on shares of Headwater Exploration from C$8.75 to C$10.00 in a research report on Friday, April 5th. Raymond James reduced their price objective on shares of Headwater Exploration from C$10.00 to C$8.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. BMO Capital Markets set a C$9.00 target price on Headwater Exploration and gave the stock an “outperform” rating in a report on Thursday, March 21st. Finally, Desjardins cut their target price on Headwater Exploration from C$10.00 to C$8.75 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$9.32.

Headwater Exploration Trading Down 0.4 %

TSE:HWX traded down C$0.03 on Friday, reaching C$7.78. 534,218 shares of the stock traded hands, compared to its average volume of 744,553. The firm has a market capitalization of C$1.84 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 0.83 and a beta of 1.60. The company’s 50 day moving average is C$7.33 and its 200-day moving average is C$6.95. The company has a current ratio of 1.64, a quick ratio of 2.07 and a debt-to-equity ratio of 0.14. Headwater Exploration has a 1-year low of C$5.76 and a 1-year high of C$8.57.

Headwater Exploration (TSE:HWX) last released its earnings results on Thursday, March 7th. The company reported C$0.19 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01. The business 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%. Equities research analysts anticipate that Headwater Exploration will post 0.8199419 EPS for the current fiscal year.

Insider Buying and Selling at Headwater Exploration

In other Headwater Exploration news, Director Phillip R. Knoll sold 20,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of C$7.51, for a total transaction of C$150,200.00. In other news, Director Chandra Henry sold 10,000 shares of Headwater Exploration stock in a transaction on Thursday, March 28th. The stock was sold at an average price of C$7.70, for a total transaction of C$76,968.00. Also, Director Phillip R. Knoll sold 20,000 shares of Headwater Exploration stock in a transaction on Monday, March 18th. The stock was sold at an average price of C$7.51, for a total value of C$150,200.00. In the last three months, insiders have sold 520,629 shares of company stock worth $4,037,876. Corporate insiders own 4.86% 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.