Headwater Exploration Inc. (TSE:HWX) Receives C$9.54 Consensus Target Price from Brokerages

Headwater Exploration Inc. (TSE:HWX) has received a consensus recommendation of “Buy” from the six analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$9.54.

Several research firms recently issued reports on HWX. Raymond James upgraded shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 7th. CIBC set a C$9.00 price objective on shares of Headwater Exploration and gave the company an “outperform” rating in a report on Thursday, January 30th. National Bankshares dropped their price objective on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Finally, Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd.

Insider Buying and Selling

In related news, Director Phillip R. Knoll sold 5,400 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total value of C$37,638.00. 5.08% of the stock is currently owned by company insiders.

Headwater Exploration Price Performance

HWX stock opened at C$6.66 on Tuesday. The firm has a market cap of C$1.58 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.83 and a beta of 1.55. The company has a quick ratio of 2.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.12. Headwater Exploration has a 12-month low of C$6.15 and a 12-month high of C$8.57. The company’s fifty day simple moving average is C$6.81 and its 200 day simple moving average is C$6.76.

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.