International Petroleum (TSE:IPCO) Sets New 52-Week High – Here’s Why

International Petroleum Co. (TSE:IPCO)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$35.47 and last traded at C$35.27, with a volume of 190395 shares trading hands. The stock had previously closed at C$34.14.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Scotiabank upped their price target on 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 upped their target price on International Petroleum from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$26.50.

International Petroleum Trading Up 3.3%

The stock has a 50-day moving average of C$29.30 and a 200 day moving average of C$26.17. The company has a quick ratio of 3.93, a current ratio of 0.81 and a debt-to-equity ratio of 52.52. The stock has a market cap of C$3.98 billion, a PE ratio of 141.08 and a beta of 0.73.

International Petroleum (TSE:IPCO) last posted its quarterly earnings results 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 3.12% and a net margin of 3.90%.The business had revenue of C$231.73 million for the quarter. As a group, sell-side analysts anticipate that International Petroleum Co. will post 0.1677866 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director William A.W. Lundin bought 20,000 shares of the stock in a transaction dated Thursday, December 18th. The shares were purchased at an average price of C$24.26 per share, for a total transaction of C$485,200.00. Following the completion of the purchase, the director directly owned 822,202 shares of the company’s stock, valued at C$19,946,620.52. This represents a 2.49% increase in their ownership of the stock. Corporate 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.