Stephen Phillip Larke Sells 50,000 Shares of Headwater Exploration Inc. (TSE:HWX) Stock

Headwater Exploration Inc. (TSE:HWX) Director Stephen Phillip Larke sold 50,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of C$8.17, for a total value of C$408,445.00.

Headwater Exploration Trading Down 0.8 %

HWX opened at C$7.87 on Thursday. The firm has a market cap of C$1.86 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 0.83 and a beta of 1.60. Headwater Exploration Inc. has a 52 week low of C$5.76 and a 52 week high of C$8.57. The business’s 50 day moving average is C$7.30 and its two-hundred day moving average is C$6.94. The company has a quick ratio of 2.07, a current ratio of 1.64 and a debt-to-equity ratio of 0.14.

Headwater Exploration (TSE:HWX) last released its quarterly earnings results on Thursday, March 7th. The company reported C$0.19 EPS for the quarter, topping the consensus estimate of C$0.18 by C$0.01. The company had revenue of C$138.43 million for the quarter. Headwater Exploration had a return on equity of 27.05% and a net margin of 36.68%. On average, research analysts predict that Headwater Exploration Inc. will post 0.8199419 EPS for the current year.

Headwater Exploration Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Wednesday, March 27th. Headwater Exploration’s payout ratio is currently 60.61%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HWX. Raymond James cut their target price on Headwater Exploration from C$10.00 to C$8.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. 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. 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 research report on Tuesday, January 23rd. BMO Capital Markets set a C$9.00 target price on Headwater Exploration and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Finally, Stifel Nicolaus lifted their price target on Headwater Exploration from C$8.75 to C$10.00 in a research report on Friday, April 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$9.13.

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.