Panic-Proof Portfolio TOP PICK
Headwater Exploration Inc. (HWX-T)
30/01/2024
Stockchase Research Editor: Michael O'Reilly
The Calgary-based oil and gas producer focuses on slow declining long-life reserves in Marten Hills and New Brunswick. Recently reported earnings were up over 50% on the year. It trades at 11x earnings, 2.5x book and supports a 27% ROE. Its high dividend is supported by a payout ratio under 65% of cash flow. We recommend setting a stop-loss at $4.75, looking to achieve $9.00 -- upside potential over 35%. Yield 6.3%
(Analysts’ price target is $9.18)
Oil / Gas
$6.340