National Bankshares raises Headwater Exploration (TSE:HWX) price target to C$10.50


Headwaters Survey (TSE:HWX – Get a Free Report) The price target was raised by research analysts at National Bankshares from C$9.50 to C$10.50 in a research note issued to investors on Friday, BayStreet.CA reported. The brokerage currently has an ‘outperform’ rating on the stock. National Bankshares’ price target would suggest a potential upside of 36.19% from the stock’s current price.

Several other research firms have also recently commented on HWX. BMO Capital Markets set a target price of C$9.00 for Headwater Exploration and gave the company an “outperform” rating in a research note on Thursday, March 21. Desjardins lowered his price target on Headwater Exploration from C$10.00 to C$8.75 and set a “buy” rating on the company in a research note on Tuesday, January 23. Stifel Nicolaus raised their price objective on Headwater Exploration from C$8.75 to C$10.00 in a research note on Friday, April 5. Haywood Securities raised their price objective on Headwater Exploration from C$9.00 to C$10.00 in a research note on Monday, April 8. Finally, Raymond James lowered their price objective on Headwater Exploration from C$10.00 to C$8.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Headwater Exploration currently has an average rating of “Moderate Buy” and a consensus target price of $9.32.

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Exploration above ground trade down 1.3%

Shares of HWX opened at C$7.71 on Friday. The stock has a fifty-day moving average of $7.36 and a two-hundred-day moving average of $6.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.07 and a current ratio of 1.64. Headwater Exploration has a 52-week low of $5.76 and a 52-week high of $8.57. The company has a market capitalization of C$1.82 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 0.83 and a beta of 1.60.

Headwater Exploration (TSE:HWX – Get Free Report) posted its latest quarterly earnings data on Thursday, March 7. The company reported earnings per share of €0.19 for the quarter, beating the consensus estimate of €0.18 by €0.01. Headwater Exploration had a return on equity of 27.05% and a net margin of 36.68%. The company had revenue of C$138.43 million during the quarter. Analysts predict that Headwater Exploration will post earnings per share of 0.8199419 for the current fiscal year.

Insider buying and selling at Headwater Exploration

In other news, President Kevin Olson sold 100,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares sold at an average price of C$8.42, for a total value of C$842,050.00. In related news, Director Stephen Phillip Larke sold 50,000 shares of stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of C$8.17, for a total transaction of C$408,445.00. Also, Director Kevin Olson sold 100,000 shares in a transaction that occurred on Wednesday, April 10. The shares sold at an average price of C$8.42, for a total value of C$842,050.00. Over the last ninety days, insiders have sold 520,629 company shares worth $4,037,876. Company insiders own 4.86% of the company’s shares.

Company profile surface exploration

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Headwater Exploration Inc is engaged in the exploration, development and production of oil and natural gas in Canada. It has interests in the Marten Hills area of ​​Alberta, and the McCully Field area of ​​New Brunswick. The company was previously called Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.

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