Headwater Exploration Inc. (OTCMKTS:CDDRF) Short Interest Down 7.7% in January

Headwater Exploration Inc. (OTCMKTS:CDDRF) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 2,162,700 shares, a decline of 7.7% from the December 31st total of 2,344,000 shares. Based on an average trading volume of 64,700 shares, the days-to-cover ratio is currently 33.4 days.

Analysts Set New Price Targets

Separately, Raymond James began coverage on shares of Headwater Exploration in a report on Friday, October 18th. They issued a “market perform” rating and a $8.50 price objective for the company.

Headwater Exploration Price Performance

Shares of CDDRF stock opened at $4.60 on Monday. Headwater Exploration has a one year low of $4.06 and a one year high of $6.26. The company’s 50-day moving average is $4.77 and its 200 day moving average is $4.88.

Headwater Exploration Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st were paid a $0.0721 dividend. This represents a dividend yield of 6.54%. The ex-dividend date of this dividend was Tuesday, December 31st.

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.