Headwater Exploration Inc. (TSE:HWX) Plans Quarterly Dividend of $0.10

Headwater Exploration Inc. (TSE:HWX) announced a quarterly dividend on Thursday, July 25th, Zacks reports. Shareholders of record on Friday, September 27th will be given a dividend of 0.10 per share on Tuesday, October 15th. This represents a $0.40 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Friday, September 27th.

Headwater Exploration Price Performance

HWX stock opened at C$7.31 on Friday. Headwater Exploration has a one year low of C$5.88 and a one year high of C$8.57. The firm has a 50-day moving average of C$7.27 and a two-hundred day moving average of C$7.17. The firm has a market capitalization of C$1.74 billion, a PE ratio of 10.59, a P/E/G ratio of 0.83 and a beta of 1.63. The company has a current ratio of 1.42, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

Headwater Exploration (TSE:HWX) last issued its quarterly earnings results on Thursday, May 9th. The company reported C$0.16 EPS for the quarter, meeting the consensus estimate of C$0.16. Headwater Exploration had a net margin of 36.47% and a return on equity of 27.82%. The business had revenue of C$134.03 million during the quarter. On average, analysts forecast that Headwater Exploration will post 0.7362525 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Haywood Securities raised their target price on Headwater Exploration from C$9.00 to C$10.00 in a research report on Monday, April 8th. BMO Capital Markets raised their price objective on Headwater Exploration from C$9.00 to C$10.00 in a research report on Friday, May 10th. Stifel Nicolaus upped their target price on Headwater Exploration from C$8.75 to C$10.00 in a report on Friday, April 5th. Finally, National Bankshares increased their price target on shares of Headwater Exploration from C$9.50 to C$10.50 and gave the stock an “outperform” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$9.46.

Insiders Place Their Bets

In other news, Director Chandra Henry sold 19,300 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$7.05, for a total transaction of C$136,070.79. In other Headwater Exploration news, Director Chandra Henry sold 19,300 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$7.05, for a total value of C$136,070.79. Also, Director Jason Jowill Jaskela sold 107,977 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$7.13, for a total transaction of C$770,297.12. Insiders own 5.12% 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.