International Petroleum (TSE:IPCO) Sets New 12-Month High – Time to Buy?

International Petroleum Co. (TSE:IPCO) reached a new 52-week high during trading on Monday. The stock traded as high as C$39.82 and last traded at C$39.79, with a volume of 9,792 shares trading hands. The stock had previously closed at C$39.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Scotiabank set a C$38.00 target price on International Petroleum and gave the stock a “sector outperform” rating in a research report on Friday, July 17th. TD set a C$38.00 price target on International Petroleum and gave the company a “hold” rating in a research note on Friday, September 11th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$38.20.

International Petroleum Stock Performance

The company has a debt-to-equity ratio of 56.91, a current ratio of 0.97 and a quick ratio of 3.93. The firm has a market capitalization of C$4.38 billion, a P/E ratio of 206.53 and a beta of 0.17. The stock’s 50 day moving average is C$35.42 and its two-hundred day moving average is C$34.59.

International Petroleum (TSE:IPCO) last announced its quarterly earnings data on Tuesday, August 4th. The company reported C$0.13 earnings per share (EPS) for the quarter. International Petroleum had a net margin of 2.81% and a return on equity of 2.33%. The firm had revenue of C$263.89 million for the quarter. As a group, equities analysts anticipate that International Petroleum Co. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at International Petroleum

In related news, Director William A.W. Lundin purchased 33,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were bought at an average price of C$30.69 per share, with a total value of C$1,012,770.00. Following the purchase, the director directly owned 624,012 shares in the company, valued at C$19,150,928.28. This trade represents a 5.58% increase in their position. Insiders own 35.60% of the company’s stock.

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.