Headwater Exploration (TSE:HWX) Shares Down 1.5% – Here’s What Happened

Headwater Exploration Inc. (TSE:HWX)’s stock price traded down 1.5% on Monday . The company traded as low as C$6.75 and last traded at C$6.78. 236,005 shares traded hands during trading, a decline of 68% from the average session volume of 744,789 shares. The stock had previously closed at C$6.88.

Wall Street Analysts Forecast Growth

HWX has been the topic of a number of recent analyst reports. National Bankshares dropped their price target on shares of Headwater Exploration from C$10.50 to C$9.50 in a report on Friday, September 27th. Raymond James raised shares of Headwater Exploration to a “hold” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$9.46.

Headwater Exploration Price Performance

The stock has a market capitalization of C$1.65 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. The company has a quick ratio of 2.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is C$6.78 and its 200-day moving average price is C$6.94.

Headwater Exploration Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date is Tuesday, December 31st. Headwater Exploration’s dividend payout ratio (DPR) is presently 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.