Headwater Exploration (OTCMKTS:CDDRF) Shares Up 1.4% – Here’s Why

Headwater Exploration Inc. (OTCMKTS:CDDRF)’s stock price rose 1.4% during trading on Thursday . The company traded as high as $6.59 and last traded at $6.59. Approximately 90,090 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 54,488 shares. The stock had previously closed at $6.50.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CDDRF. Raymond James Financial downgraded shares of Headwater Exploration from an “outperform” rating to a “market perform” rating in a research note on Monday, December 8th. Royal Bank Of Canada restated a “sector perform” rating on shares of Headwater Exploration in a research note on Friday, December 5th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Headwater Exploration in a research note on Friday, December 5th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Headwater Exploration Stock Performance

The company’s fifty day simple moving average is $5.85 and its two-hundred day simple moving average is $5.37.

Headwater Exploration Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.0808 dividend. This represents a yield of 584.0%. The ex-dividend date of this dividend was Monday, September 29th. This is a positive change from Headwater Exploration’s previous dividend of $0.08.

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.