Analyst Jeremy Mccrea from BMO Capital maintained a Buy rating on Headwater Exploration and keeping the price target at C$9.50.
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Jeremy Mccrea has given his Buy rating due to a combination of factors that highlight Headwater Exploration’s strategic positioning and operational efficiency. The company is capitalizing on the highly economical Clearwater formation, which is one of the most promising plays in Canada. Headwater’s exposure to this area, combined with its extensive development and waterflood program, positions it well for continued growth.
Headwater’s 2026 budget reflects a strategic reduction in spending while achieving higher production targets, showcasing the effectiveness of its secondary recovery program. The company’s commitment to exploration and unlocking new core areas further supports its growth prospects. Additionally, Headwater’s focus on shareholder returns through organic growth, dividends, and buybacks reinforces its appeal as a strong investment opportunity.
According to TipRanks, Mccrea is a top 100 analyst with an average return of 23.8% and a 62.47% success rate. Mccrea covers the Energy sector, focusing on stocks such as Tamarack Valley Energy, Headwater Exploration, and Baytex Energy.
In another report released on November 21, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a C$10.00 price target.