National Bankshares Increases Headwater Exploration (TSE:HWX) Price Target to C$10.50

Headwater Exploration (TSE:HWX) had its target price raised by research analysts at National Bankshares from C$9.50 to C$10.50 in a research report issued on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price objective would suggest a potential upside of 34.96% from the company’s current price.

A number of other analysts also recently issued reports on HWX. Desjardins decreased their price target on Headwater Exploration from C$10.00 to C$8.75 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Haywood Securities lifted their price target on Headwater Exploration from C$9.00 to C$10.00 in a report on Monday, April 8th. 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. 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 target price 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 five have issued a buy rating to the stock. Based on data from MarketBeat, Headwater Exploration has an average rating of “Moderate Buy” and a consensus target price of C$9.32.

Headwater Exploration Stock Down 0.4 %

TSE:HWX traded down C$0.03 during midday trading on Friday, reaching C$7.78. The company had a trading volume of 534,218 shares, compared to its average volume of 744,553. The firm has a market capitalization of C$1.84 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.83 and a beta of 1.60. The stock’s fifty day simple moving average is C$7.33 and its 200-day simple moving average is C$6.95. Headwater Exploration has a 12-month low of C$5.76 and a 12-month high of C$8.57. The company has a current ratio of 1.64, a quick ratio of 2.07 and a debt-to-equity ratio of 0.14.

Headwater Exploration (TSE:HWX) last released its earnings results on Thursday, March 7th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01. The firm had revenue of C$138.43 million during the quarter. Headwater Exploration had a return on equity of 27.05% and a net margin of 36.68%. On average, sell-side analysts anticipate that Headwater Exploration will post 0.8199419 earnings per share for the current fiscal year.

Insider Transactions at Headwater Exploration

In related news, Senior Officer Bradley Christman sold 26,102 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of C$7.72, for a total value of C$201,507.44. In other Headwater Exploration news, Senior Officer Terry Ryan Danku sold 250,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of C$7.45, for a total value of C$1,862,700.00. Also, Senior Officer Bradley Christman sold 26,102 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of C$7.72, for a total value of C$201,507.44. Insiders have sold 520,629 shares of company stock valued at $4,037,876 in the last quarter. 4.86% of the stock is currently owned by corporate insiders.

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.