Headwater Exploration (OTCMKTS:CDDRF) Trading 1.2% Higher – Should You Buy?

Headwater Exploration Inc. (OTCMKTS:CDDRF)’s share price rose 1.2% during mid-day trading on Thursday . The stock traded as high as $8.50 and last traded at $8.39. Approximately 11,133 shares traded hands during trading, a decline of 77% from the average daily volume of 47,423 shares. The stock had previously closed at $8.29.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CDDRF. Raymond James Financial cut shares of Headwater Exploration from an “outperform” rating to a “market perform” rating in a report on Monday, December 8th. BMO Capital Markets restated an “outperform” rating on shares of Headwater Exploration in a research report on Monday, January 19th. National Bankshares reaffirmed an “outperform” rating on shares of Headwater Exploration in a research note on Friday, December 5th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Headwater Exploration in a research note on Friday, December 5th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Headwater Exploration presently has an average rating of “Moderate Buy”.

Headwater Exploration Stock Up 1.2%

The company’s fifty day moving average price is $6.91 and its two-hundred day moving average price is $5.83.

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. Headwater Exploration Inc incorporated in 1996 and is headquartered in Calgary, Canada.