Headwater Exploration (TSE:HWX) Upgraded at Raymond James

Raymond James upgraded shares of Headwater Exploration (TSE:HWX) from a market perform rating to an outperform rating in a research note published on Tuesday, MarketBeat reports.

A number of other equities analysts have also commented on HWX. National Bankshares cut their price objective on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$9.38.

Headwater Exploration Stock Up 2.4 %

Shares of TSE HWX opened at C$7.33 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.13. The company has a market cap of C$1.74 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.83 and a beta of 1.55. Headwater Exploration has a 52 week low of C$5.88 and a 52 week high of C$8.57. The business has a 50-day simple moving average of C$6.80 and a two-hundred day simple moving average of C$6.84.

Headwater Exploration Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.40 annualized dividend and a yield of 5.46%. Headwater Exploration’s payout ratio is presently 51.28%.

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.