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

International Petroleum Co. (TSE:IPCO) shares reached a new 52-week high on Tuesday . The stock traded as high as C$39.29 and last traded at C$39.01, with a volume of 6721 shares traded. The stock had previously closed at C$38.81.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IPCO. Royal Bank Of Canada increased their price objective on shares of 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 increased their price objective on shares of International Petroleum from C$24.00 to C$26.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 20th. National Bank Financial set a C$45.00 price objective on shares of International Petroleum and gave the stock a “sector perform” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets upgraded shares of International Petroleum from a “market perform” rating to an “outperform” rating and set a C$43.00 price target on the stock in a research note on Tuesday, April 7th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$35.25.

International Petroleum Stock Up 0.4%

The firm’s 50 day simple moving average is C$36.34 and its 200 day simple moving average is C$30.18. The company has a market cap of C$4.39 billion, a price-to-earnings ratio of 177.05 and a beta of 0.35. The company has a quick ratio of 3.93, a current ratio of 0.79 and a debt-to-equity ratio of 58.61.

International Petroleum (TSE:IPCO) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$0.15 EPS for the quarter. International Petroleum had a net margin of 3.51% and a return on equity of 2.73%. The company had revenue of C$240.54 million for the quarter. Sell-side analysts anticipate that International Petroleum Co. will post 0.1677866 EPS for the current fiscal year.

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.