$HWX.TO

Headwater Exploration Up 2.8% As Secures TSX Approval for Normal Course Issuer Bid

Headwater Exploration (HWX.TO) has secured approval from the Toronto Stock Exchange to commence a normal course issuer bid (NCIB), the company said Monday.Under the NCIB, Headwater may purchase for cancellation up to 22,287,602 common shares, or about 10% of its 237,762,877 issued and outstanding Shares as of April 30.The NCIB is expected to commence on Wednesday and will terminate on May 12, 2027, or earlier.Headwater believes that, from time to time, the market price of its shares may not fully reflect the underlying value of the shares.As a result of such purchases, the number of the issued shares will be decreased and, consequently, the proportionate share interest of all remaining shareholders will be increased on a pro rata basis.Price: $12.89, Change: $+0.35, Percent Change: +2.79%

Update: -- Headwater Exploration Gets TSX OK To Renew NCIB

Headwater Exploratio Gets TSX OK To Renew NCIB

RBC Lifts Price Targets of Headwater, Whitecap After Q1 Results

RBC Capital Markets on Friday raised the price targets of Headwater Exploration (HWX.TO) and Whitecap Resources (WCP.TO) following the release of their first-quarter results.RBC lifted Headwater's price target to C$14.00 from C$13.00 with a sector-perform rating, as the company's cash flow of C$0.41 per share exceeded RBC's projection of C$0.39 and the Street estimate of C$0.37.RBC also increased Whitecap's price target to C$18.00 from C$17.00 and maintained its sector-perform rating after the company's adjusted funds from operations of C$0.84 per share beat RBC's forecast of C$0.75 and the Street expectation of C$0.74.Meanwhile, RBC reiterated Advantage Energy's (AAV.TO) sector-perform rating and C$14.00 price target. The company's cash flow of C$0.71 per share beat RBC's estimate of C$0.68 and the Street forecast of C$0.67.Price: $13.33, Change: $-0.13, Percent Change: -0.93%

Earnings Flash (HWX.TO) Headwater Exploration Reported Q1 Per Share Basic and Diluted $0.15; Total Sales, Net of Blending Expense $169.9M

Earnings Flash (HWX.TO) Headwater Exploration Quarterly Dividend Increased to $0.12 Per Common Share, From Prior $0.11

RBC Expects Canadian E&P Companies to Discuss Use of Free Cash Flows During Q1 Earnings Season

RBC Capital Markets on Monday said it expects Canadian oil and gas exploration and production companies to discuss the use of free cash flows amid higher crude prices during the earnings reporting season for the first quarter.RBC expects the companies to outline their near-term focus on higher buybacks and debt repayment, with capital programs to increase later this year if pricing remains robust.According to RBC, AECO natural-gas prices experienced a brief rebound during the first quarter, but have since pulled back as supplies have remained robust, keeping pace with increased demand from LNG Canada.RBC said its estimates are largely above FactSet consensus forecasts for now.The earnings season will kick off April 20 with PrairieSky Royalty (PSK.TO) reporting after market close.Price: $10.11, Change: $+0.01, Percent Change: +0.10%