International Petroleum (TSE:IPCO) Reaches New 12-Month High – Still a Buy?

International Petroleum Co. (TSE:IPCO)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$30.48 and last traded at C$30.17, with a volume of 9324 shares changing hands. The stock had previously closed at C$30.04.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised their target price on shares of International Petroleum from C$24.00 to C$26.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$26.00.

International Petroleum Trading Up 1.2%

The stock has a market cap of C$3.41 billion, a P/E ratio of 104.79 and a beta of 0.83. The company has a debt-to-equity ratio of 47.72, a current ratio of 1.92 and a quick ratio of 3.93. The stock’s 50-day moving average is C$26.06 and its two-hundred day moving average is C$24.79.

International Petroleum (TSE:IPCO) last posted its earnings results on Tuesday, November 4th. The company reported C$0.03 earnings per share for the quarter. International Petroleum had a net margin of 11.23% and a return on equity of 10.18%. The firm had revenue of C$239.91 million for the quarter. Equities research analysts anticipate that International Petroleum Co. will post 0.1677866 EPS for the current year.

Insider Buying and Selling at International Petroleum

In other International Petroleum news, Director William A.W. Lundin acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were bought at an average cost of C$24.26 per share, with a total value of C$485,200.00. Following the completion of the acquisition, the director directly owned 822,202 shares in the company, valued at C$19,946,620.52. This represents a 2.49% increase in their position. 35.60% of the stock is owned by insiders.

About International Petroleum

International Petroleum Corp is an international oil and gas exploration and production company. It is engaged in the exploration, development, and production of oil and gas. Geographically, the company holds a portfolio of oil and gas production assets and development projects in Canada, Malaysia and France. It is based in Canada and derives revenue from the sales of gas, crude oil, and natural gas liquids, of which key revenue is derived from the sales of crude oil.