Headwater Exploration (TSE:HWX) Stock Rating Lowered by Desjardins

Desjardins lowered shares of Headwater Exploration (TSE:HWX) from a buy rating to a hold rating in a research report released on Wednesday, Marketbeat reports. Desjardins currently has C$7.25 price target on the stock, down from their previous price target of C$8.25.

A number of other brokerages also recently commented on HWX. CIBC set a C$9.00 price target on Headwater Exploration and gave the company an “outperform” rating in a research report on Thursday, January 30th. National Bankshares cut their price target on Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Atb Cap Markets upgraded Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd. Finally, Raymond James raised Headwater Exploration from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Headwater Exploration has an average rating of “Buy” and a consensus target price of C$9.21.

Headwater Exploration Stock Performance

Shares of Headwater Exploration stock opened at C$6.38 on Wednesday. The company has a market cap of C$1.51 billion, a PE ratio of 8.18, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. Headwater Exploration has a 52 week low of C$5.70 and a 52 week high of C$8.57. The business has a 50 day moving average price of C$6.61 and a 200-day moving average price of C$6.68. The company has a quick ratio of 2.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.12.

Insider Activity

In related news, Director Phillip R. Knoll sold 5,400 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total transaction of C$37,638.00. Company insiders own 5.08% of the company’s stock.

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.