International Petroleum (TSE:IPCO) Hits New 1-Year High Following Analyst Upgrade

International Petroleum Co. (TSE:IPCO) shares reached a new 52-week high during mid-day trading on Tuesday after BMO Capital Markets upgraded the stock from a market perform rating to an outperform rating. BMO Capital Markets now has a C$43.00 price target on the stock. International Petroleum traded as high as C$38.76 and last traded at C$38.75, with a volume of 35140 shares traded. The stock had previously closed at C$36.71.

A number of other research firms have also weighed in on IPCO. Royal Bank Of Canada increased their target price on International Petroleum from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 11th. Scotiabank raised their price target on International Petroleum from C$24.00 to C$26.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, International Petroleum presently has a consensus rating of “Hold” and a consensus price target of C$32.00.

International Petroleum Stock Performance

The company has a debt-to-equity ratio of 52.52, a current ratio of 0.81 and a quick ratio of 3.93. The firm has a market cap of C$3.99 billion, a price-to-earnings ratio of 141.52 and a beta of 0.22. The firm has a fifty day simple moving average of C$33.02 and a two-hundred day simple moving average of C$27.60.

International Petroleum (TSE:IPCO) last issued its quarterly earnings results on Tuesday, February 10th. The company reported C($0.05) earnings per share for the quarter. The business had revenue of C$231.73 million during the quarter. International Petroleum had a return on equity of 3.12% and a net margin of 3.90%. On average, analysts expect that International Petroleum Co. will post 0.1677866 EPS for the current year.

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.