International Petroleum (TSE:IPCO) Hits New 12-Month High – Here’s Why

International Petroleum Co. (TSE:IPCO) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$30.89 and last traded at C$30.66, with a volume of 177419 shares traded. The stock had previously closed at C$30.50.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on IPCO shares. Scotiabank boosted 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 research report on Tuesday, January 20th. Royal Bank Of Canada boosted their price objective on International Petroleum from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 11th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$26.50.

International Petroleum Price Performance

The company has a market capitalization of C$3.45 billion, a P/E ratio of 123.16 and a beta of 0.83. The business’s 50-day moving average is C$26.56 and its two-hundred day moving average is C$25.18. The company has a quick ratio of 3.93, a current ratio of 1.92 and a debt-to-equity ratio of 47.72.

International Petroleum (TSE:IPCO) last issued its quarterly earnings data on Tuesday, February 10th. The company reported C($0.05) earnings per share (EPS) for the quarter. International Petroleum had a return on equity of 10.18% and a net margin of 11.23%.The firm had revenue of C$231.73 million during the quarter. As a group, analysts predict that International Petroleum Co. will post 0.1677866 earnings per share for the current year.

Insider Activity at International Petroleum

In other International Petroleum news, Director William A.W. Lundin purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average cost of C$24.26 per share, for a total transaction of C$485,200.00. Following the completion of the acquisition, the director owned 822,202 shares of the company’s stock, valued at C$19,946,620.52. The trade was a 2.49% increase in their position. Insiders own 35.60% of the company’s stock.

International Petroleum Company Profile

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.