International Petroleum (TSE:IPCO) Releases Quarterly Earnings Results

International Petroleum (TSE:IPCO) posted its quarterly earnings results on Tuesday. The company reported C$0.15 EPS for the quarter, FiscalAI reports. International Petroleum had a net margin of 3.90% and a return on equity of 3.12%. The business had revenue of C$240.54 million during the quarter.

Here are the key takeaways from International Petroleum’s conference call:

• Production came in at the top of Q1 guidance at 43,000 BOE/d and the company maintains full?year guidance of 44,000–47,000 BOE/d, with Blackrod Phase I still on track for first oil in Q3 2026 and expected to materially lift back?end production and 2027 cash generation.
• Operating costs remain disciplined at below $18/BOE in Q1 with guidance of $18–$20/BOE, and management expects per?barrel OpEx to decline as Blackrod ramps and volumes scale through 2026–2027.
• Q1 operating cash flow was $68m and full?year OCF guidance was raised to $220–$340m (assumes $70–$90 Brent), while benchmark hedges covering ~40% of exposure roll off in June—leaving the company fully price?exposed from July; net debt stands at $513m and the Canadian revolving facility was increased to CAD 250m maturing in 2028.
• Capital spending was increased to $163m (Q1 capex $71m) to accelerate short?cycle projects, resulting in negative free cash flow of ?$17m in Q1 and a likely negative FCF in Q2, with full?year FCF now forecast at $0–$120m (assumes $70–$90 Brent).

International Petroleum Trading Up 1.4%

International Petroleum stock opened at C$38.18 on Wednesday. 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 firm has a 50-day moving average price of C$35.39 and a two-hundred day moving average price of C$29.19. The firm has a market capitalization of C$4.28 billion, a price-to-earnings ratio of 152.72 and a beta of 0.35. International Petroleum has a 52-week low of C$17.87 and a 52-week high of C$39.08.

Wall Street Analyst Weigh In

Several research firms have recently commented on IPCO. Royal Bank Of Canada lifted their price target on shares of International Petroleum from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a report on Wednesday, February 11th. Scotiabank boosted their target price on shares of 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. National Bank Financial set a C$45.00 target price on shares of International Petroleum and gave the company a “sector perform” rating in a research note on Monday. Finally, BMO Capital Markets raised shares of International Petroleum from a “market perform” rating to an “outperform” rating and set a C$43.00 target price for the company in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, International Petroleum currently has a consensus rating of “Hold” and a consensus target price of C$35.25.

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.