National Bankshares Lowers Headwater Exploration (TSE:HWX) Price Target to C$9.00

Headwater Exploration (TSE:HWX) had its target price decreased by National Bankshares from C$9.50 to C$9.00 in a research note published on Thursday morning,BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the company. Raymond James raised Headwater Exploration to a “hold” rating in a research report on Thursday, October 17th. Atb Cap Markets upgraded Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Headwater Exploration currently has a consensus rating of “Buy” and a consensus price target of C$9.38.

Headwater Exploration Stock Down 1.6 %

Headwater Exploration stock opened at C$6.20 on Thursday. The company has a current ratio of 1.53, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. Headwater Exploration has a 1-year low of C$5.88 and a 1-year high of C$8.57. The firm’s fifty day simple moving average is C$6.79 and its 200-day simple moving average is C$6.87. The company has a market capitalization of C$1.47 billion, a P/E ratio of 7.95, a P/E/G ratio of 0.83 and a beta of 1.55.

Headwater Exploration Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.45%. The ex-dividend date is Tuesday, December 31st. Headwater Exploration’s payout ratio is currently 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.