Insider Selling: Headwater Exploration Inc. (TSE:HWX) Director Sells 60,000 Shares of Stock

Headwater Exploration Inc. (TSE:HWXGet Rating) Director Phillip R. Knoll sold 60,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of C$7.33, for a total transaction of C$439,704.00. Following the completion of the transaction, the director now owns 411,313 shares in the company, valued at approximately C$3,014,266.19.

TSE:HWX traded down C$0.03 during trading hours on Friday, reaching C$6.93. The company had a trading volume of 814,259 shares, compared to its average volume of 1,417,287. The company has a current ratio of 2.55, a quick ratio of 2.51 and a debt-to-equity ratio of 0.39. Headwater Exploration Inc. has a 52 week low of C$3.39 and a 52 week high of C$7.66. The firm has a market cap of C$1.55 billion and a price-to-earnings ratio of 33.00. The firm’s 50 day moving average price is C$6.85 and its 200-day moving average price is C$6.21.

Headwater Exploration (TSE:HWXGet Rating) last posted its earnings results on Thursday, March 10th. The company reported C$0.15 EPS for the quarter, topping analysts’ consensus estimates of C$0.10 by C$0.05. The company had revenue of C$70.13 million during the quarter. On average, analysts forecast that Headwater Exploration Inc. will post 0.7699999 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Headwater Exploration from C$7.50 to C$8.50 and gave the stock an “outperform” rating in a research note on Wednesday, February 2nd. Raymond James boosted their price objective on shares of Headwater Exploration from C$8.50 to C$10.00 and gave the stock an “outperform” rating in a report on Friday, May 13th. National Bankshares boosted their price objective on shares of Headwater Exploration from C$7.75 to C$9.00 and gave the stock an “outperform” rating in a report on Wednesday, February 2nd. Stifel Nicolaus boosted their price objective on shares of Headwater Exploration from C$10.25 to C$10.75 in a report on Monday. Finally, BMO Capital Markets boosted their price objective on shares of Headwater Exploration from C$9.00 to C$10.00 in a report on Friday, March 11th.

About Headwater Exploration (Get Rating)

Headwater Exploration Inc, a junior resource company, engages in the exploration, development, and production of petroleum and natural gas in the Western Canadian Sedimentary Basin and onshore in New Brunswick. It holds interests in the McCully Field located to the northeast of Sussex, New Brunswick; the Clearwater play located in the Marten Hills, Alberta; and the Frederick Brook shale gas prospect located in New Brunswick.

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