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Headwater Exploration Inc. (HWX.TO)
CAD12.45
-0.19 (-1.50%)
CA TSX Energy Oil & Gas Exploration & Production
Address
500 – 4th Avenue SW T2P 2V6
Calgary, AB, CA
Calgary, AB, CA
CEO
Jason Jowill Jaskela
Website
headwaterexp.com
IPO
1997-12-11
ISIN CA4220961078
Also trades on
Other OTC · CDDRF (USD)
Toronto Stock Exchange · HWX.TO (CAD)
Description
Headwater Exploration Inc. is a smaller-scale resource firm primarily focused on discovering, developing, and extracting petroleum and natural gas. Its activities are concentrated within the Western Canadian Sedimentary Basin and onshore regions of New Brunswick. The company holds ownership stakes in several key projects, including the McCully Field, situated northeast of Sussex, New Brunswick; the Clearwater play in Alberta's Marten Hills area; and the Frederick Brook shale gas prospect, also located in New Brunswick. The company was formerly called Corridor Resources Inc. before officially changing its name to Headwater Exploration Inc. in March 2020. Its main corporate office is based in Calgary, Canada.
Market Cap & Enterprise Value
Merger & Acquisition History
No mergers or acquisitions recorded for this company.
Technical Outlook
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Signal Summary
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| Indicator | 1D | 1W | 2W | 3W | 1M |
|---|
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
CAD12.45
-0.19 (-1.50%)
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Volume Profile
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Liquidity & share structure
Average Volume
609.0K
Beta
1.03
Float Shares
221.72M
Free Float %
93.3%
Price Performance
| 1D | 5D | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Max |
|---|---|---|---|---|---|---|---|---|---|---|
| +2.79% | +2.87% | +6.88% | +13.37% | +60.12% | +37.57% | +108.58% | +109.59% | +185.18% | +2,672.04% | +1,332.22% |
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From
To
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Annual Monthly Returns
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Daily Returns Distribution
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Revenue flow
Revenue by geography
Revenue by segment
From
To
Revenue composition
From
To
By product
By geography
Financial Statements
Select metrics from the tables below to build your comparison.
Income Statement
Balance Sheet
Cash Flow Statement
Key Metrics
Financial Ratios
Employees
Financial Growth (CAGR)
Market Data
Price Targets & DCF
Current price
12.45
DCF (Unlevered)
6.46
-48.2%
DCF (Levered)
12.07
-3.1%
DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.
Ratings Trend (MoM)
75% Bullish
| Rating | 2026-05 | Change |
|---|---|---|
| Strong Buy | 2 | 0 |
| Buy | 4 | 0 |
| Hold | 2 | 0 |
| Sell | 0 | 0 |
| Strong Sell | 0 | 0 |
Quality scores
Altman Z-Score
8.07
Safe zone
Piotroski F-Score
7 / 9
Strong
MOAT Score
6 / 10
Developing
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
3 / 5
Medium
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
4 / 5
High
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
-
Revenue growth Oil & Gas Exploration & Production: +0.0%-17.0% Q1'26: +3.9% (vs Q1'25)
-
EPS growth Oil & Gas Exploration & Production: +11.9%-20.0% Q1'26: -28.6% (vs Q1'25)
-
FCF margin FCF growth · Oil & Gas Exploration & Production: +19.3%+27.9% Q1'26: -15.1% (vs Q1'25)
-
EBIT margin Oil & Gas Exploration & Production: +22.0%+40.2% ★ Q1'26: +26.4% (vs Q1'25)
-
ROIC Oil & Gas Exploration & Production: +5.1%+23.7% ★ Q1'26: +20.5% (vs Q1'25)
-
Share dilution Oil & Gas Exploration & Production: +0.0%+1.5% Q1'26: +0.7% (vs Q1'25)
-
Debt / EBITDA Net debt/EBITDA · Oil & Gas Exploration & Production: 0.70×0.04× ★ Q1'26: 0.01× (vs Q1'25)
Valuation Multiples
From
To
Price Forecast (3Y)
From
To
Theoretical Return — If Invested Today
* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.
Consensus Estimates
| Metric |
Dec 2015 actual |
Dec 2016 actual |
Dec 2017 actual |
Dec 2018 actual |
Dec 2019 actual |
Dec 2020 actual |
Dec 2021 actual |
Dec 2022 actual |
Dec 2023 actual |
Dec 2024 actual |
Dec 2025 actual |
Dec 2026 2 Rev. Ana. 2 EPS Ana. |
Dec 2027 3 Rev. Ana. 1 EPS Ana. |
Dec 2028 1 Rev. Ana. 1 EPS Ana. |
Dec 2029 2 Rev. Ana. 1 EPS Ana. |
Dec 2030 1 Rev. Ana. 1 EPS Ana. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
15.88M
est: 16.39M (-3.1%)
|
13.54M
est: 16.39M (-17.4%)
|
7.67M
est: 17.26M (-55.5%)
|
16.94M
est: 19.41M (-12.7%)
|
9.33M
est: 12.70M (-26.5%)
|
9.50M
est: 7.00M (+35.7%)
|
190.94M
est: 154.50M (+23.6%)
|
458.38M
est: 402.50M (+13.9%)
|
425.55M
est: 484.24M (-12.1%)
|
619.80M
est: 594.40M (+4.3%)
|
514.29M
est: 597.60M (-13.9%)
|
729.48M
720.17M – 738.80M
+22.1% YoY
|
703.07M
550.06M – 796.08M
-3.6% YoY
|
1.14B
1.02B – 1.22B
+62.1% YoY
|
1.49B
1.33B – 1.59B
+30.4% YoY
|
1.94B
1.73B – 2.07B
+30.4% YoY
|
| EBITDA |
-15.66M
est: 10.10M (-255.1%)
|
-12.36M
est: 10.10M (-222.4%)
|
18.00M
est: 10.63M (+69.3%)
|
2.95M
est: 11.96M (-75.3%)
|
8.35M
est: 7.82M (+6.7%)
|
5.49M
est: 4.31M (+27.2%)
|
95.66M
est: 95.18M (+0.5%)
|
291.97M
est: 247.97M (+17.7%)
|
324.89M
est: 305.56M (+6.3%)
|
372.81M
est: 375.08M (-0.6%)
|
335.42M
est: 377.10M (-11.1%)
|
460.32M
454.44M – 466.20M
+22.1% YoY
|
443.65M
347.10M – 502.34M
-3.6% YoY
|
719.02M
641.96M – 767.81M
+62.1% YoY
|
937.36M
836.90M – 1.00B
+30.4% YoY
|
1.22B
1.09B – 1.30B
+30.4% YoY
|
| EBIT |
-20.98M
est: 5.08M (-512.5%)
|
-17.51M
est: 5.08M (-444.3%)
|
15.35M
est: 5.35M (+186.8%)
|
-1.92M
est: 6.02M (-131.9%)
|
3.58M
est: 3.94M (-9.1%)
|
-559.0K
est: 2.17M (-125.7%)
|
50.93M
est: 47.93M (+6.3%)
|
211.86M
est: 124.86M (+69.7%)
|
204.70M
est: 194.84M (+5.1%)
|
247.92M
est: 239.17M (+3.7%)
|
206.70M
est: 240.45M (-14.0%)
|
293.52M
289.77M – 297.27M
+22.1% YoY
|
282.89M
221.32M – 320.32M
-3.6% YoY
|
458.48M
409.34M – 489.59M
+62.1% YoY
|
597.70M
533.64M – 638.25M
+30.4% YoY
|
779.20M
695.69M – 832.07M
+30.4% YoY
|
| Net Income |
-31.88M
est: 7.90M (-503.6%)
|
-29.29M
est: 7.90M (-470.8%)
|
17.74M
est: -3.24M (+646.7%)
|
-314.0K
est: 913.6K (-134.4%)
|
2.82M
est: 4.73M (-40.5%)
|
6.71M
est: -10.25M (+165.5%)
|
45.83M
est: 56.16M (-18.4%)
|
162.11M
est: 176.40M (-8.1%)
|
156.07M
est: 186.63M (-16.4%)
|
188.03M
est: 184.57M (+1.9%)
|
153.21M
est: 191.67M (-20.1%)
|
248.59M
229.46M – 267.71M
+29.7% YoY
|
214.29M
182.61M – 245.97M
-13.8% YoY
|
345.43M
297.30M – 375.90M
+61.2% YoY
|
398.20M
342.72M – 433.33M
+15.3% YoY
|
465.37M
400.53M – 506.42M
+16.9% YoY
|
| SGA |
7.26M
est: 2.30M (+215.4%)
|
6.66M
est: 2.30M (+189.6%)
|
3.60M
est: 2.42M (+48.7%)
|
3.06M
est: 2.72M (+12.2%)
|
3.34M
est: 1.78M (+87.4%)
|
5.43M
est: 982.3K (+452.5%)
|
6.71M
est: 21.68M (-69.1%)
|
10.56M
est: 56.48M (-81.3%)
|
14.92M
est: 19.85M (-24.9%)
|
23.00M
est: 24.37M (-5.6%)
|
38.41M
est: 24.50M (+56.8%)
|
29.91M
29.53M – 30.29M
+22.1% YoY
|
28.83M
22.55M – 32.64M
-3.6% YoY
|
46.72M
41.71M – 49.89M
+62.1% YoY
|
60.90M
54.38M – 65.03M
+30.4% YoY
|
79.40M
70.89M – 84.78M
+30.4% YoY
|
| EPS |
-0.36
est: 0.03 (-1,177.7%)
|
-0.33
est: 0.03 (-1,087.9%)
|
0.20
est: -0.01 (+1,557.5%)
|
0.00
est: 0.00 (-190.6%)
|
0.03
est: 0.02 (+59.0%)
|
0.05
est: -0.04 (+211.0%)
|
0.23
est: 0.24 (-3.2%)
|
0.71
est: 0.76 (-6.6%)
|
0.66
est: 0.79 (-16.5%)
|
0.80
est: 0.89 (-10.1%)
|
0.64
est: 0.82 (-22.0%)
|
1.03
0.96 – 1.12
+26.0% YoY
|
0.89
0.76 – 1.03
-13.5% YoY
|
1.44
1.24 – 1.57
+61.2% YoY
|
1.66
1.43 – 1.81
+15.3% YoY
|
1.94
1.67 – 2.11
+16.9% YoY
|
Historical Ratings (3M)
| Date | Rating | Overall | DCF | ROE | ROA | D/E | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
| 2026-05-11 | A- | 4/5 | 3/5 | 5/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-08 | A- | 4/5 | 3/5 | 5/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-07 | A- | 4/5 | 3/5 | 5/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-06 | A- | 4/5 | 3/5 | 5/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-05 | A- | 4/5 | 3/5 | 5/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-04 | A- | 4/5 | 3/5 | 5/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-01 | A- | 4/5 | 3/5 | 5/5 | 5/5 | 3/5 | 3/5 | 2/5 |
| 2026-04-30 | A- | 4/5 | 3/5 | 5/5 | 5/5 | 3/5 | 3/5 | 2/5 |
| 2026-04-29 | A- | 4/5 | 3/5 | 5/5 | 5/5 | 3/5 | 3/5 | 2/5 |
| 2026-04-28 | A- | 4/5 | 3/5 | 5/5 | 5/5 | 3/5 | 3/5 | 2/5 |
| 2026-04-27 | A- | 4/5 | 3/5 | 5/5 | 5/5 | 3/5 | 3/5 | 2/5 |
| 2026-04-24 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 2/5 |
| 2026-04-23 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 2/5 |
| 2026-04-22 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 2/5 |
| 2026-04-21 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 2/5 |
| 2026-04-20 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 2/5 |
| 2026-04-17 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 2/5 |
| 2026-04-16 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 2/5 |
Owner Earnings
Owner's Earnings (history)
From
To
Owner alignment
Owner's Earnings TTM
-8.46M
OE per share TTM
-0.04
Owner's Yield
-0.28%
Maintenance CapEx ratio
160.32%
Maint CapEx / Avg PPE
148.0%
Ownership Overview
Ownership breakdown
Ownership breakdown not available.
At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)
No beneficial ownership filings recorded.
Institutional Activity (13F)
Institutional ownership trend
Institutional history not available.
Top institutional holders
Top holders not available.
ETF Ownership
Top ETFs holding this stock
Held by 68 ETFs in our universe
| # | ETF | Weight | Est. AUM exposure | TER |
|---|---|---|---|---|
| 1 | iShares S&P/TSX SmallCap Index ETF XCS.TO | 0.89% | 1.53M | 0.60% |
| 2 | T. Rowe Price Natural Resources ETF TURF | 0.83% | 1.82M | 0.44% |
| 3 | iShares S&P/TSX Capped Energy Index ETF XEG.TO | 0.70% | 11.66M | 0.60% |
| 4 | BMO Canadian Dividend ETF ZDV.TO | 0.62% | 8.13M | 0.39% |
| 5 | ALPS Funds CoreCommodity Natural Resources ETF CCNR | 0.42% | 1.54M | 0.39% |
| 6 | TD Q Canadian Dividend ETF TQCD.TO | 0.38% | 8.94M | 0.39% |
| 7 | iShares Oil & Gas Exploration & Production UCITS ETF IOGP.L | 0.29% | 1.16M | 0.55% |
| 8 | iShares S&P/TSX Completion Index ETF XMD.TO | 0.27% | 1.52M | 0.60% |
| 9 | Desjardins RI Canada - Net-Zero Emissions Pathway ETF DRMC.TO | 0.20% | 143.1K | 0.15% |
| 10 | Avantis International Small Cap Value ETF AVDV | 0.17% | 31.92M | 0.36% |
Insider Activity
Insider Activity — Latest Quarter
No insider activity available.
Insider buys vs sells (history)
Insider history not available.
Recent insider transactions
No recent insider transactions.
Executive team
Top executives
EBIT / Employee
5.44M
Shares Outstanding
237.76M
Executive compensation
Executive compensation (annual)
Executive compensation not available.
CEO compensation breakdown
No CEO compensation history available.
Proxy statements
Proxy statements (DEF 14A)
No proxy statements available for this company yet.
Recent SEC filings
Recent SEC filings
No SEC filings available for this company yet.
Executive team
| Name | Title | Compensation | Gender |
|---|---|---|---|
| Jason Jowill Jaskela | Chief Executive Officer, President & Director | 869.6K | male |
| Brad Christman | Chief Operating Officer | 758.2K | male |
| Alexandra Horvath | Chief Financial Officer | 758.2K | female |
| Terry Ryan Danku | Executive Vice President | 758.2K | male |
| Neil Jack Roszell | Executive Chairman | 556.8K | male |
| Edward Brown | Corporate Secretary | — | male |
| Andrea Anita Creemer | Exploitation Engineer | — | — |
| Dieter Deines | Vice President of Exploration | — | male |
ESG Score History
No data available for this company.
Senate Trading Activity
No Senate trading activity found for this company.
House Trading Activity
No House trading activity found for this company.
Market share among peers
Peer comparison — filtered group (TTM)
Your opinion
Share your view on this stock and instantly see how the community has voted over the last 6 months.
Community Opinion for HWX.TO
Short-term intention
Target Price Distribution
These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.
