International Petroleum (TSE:IPCO) Stock Crosses Below 50-Day Moving Average – Here’s Why

International Petroleum Co. (TSE:IPCO) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$32.85 and traded as low as C$29.79. International Petroleum shares last traded at C$30.58, with a volume of 418,384 shares.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IPCO. BMO Capital Markets raised 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 report on Tuesday, April 7th. Scotiabank set a C$38.00 price objective on shares of International Petroleum and gave the company a “sector outperform” rating in a research report on Friday, July 17th. Finally, 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, May 4th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$38.25.

International Petroleum Price Performance

The firm has a 50-day moving average of C$32.85 and a 200-day moving average of C$33.03. The stock has a market cap of C$3.45 billion, a PE ratio of 139.00 and a beta of 0.12. The company has a debt-to-equity ratio of 58.61, a current ratio of 0.79 and a quick ratio of 3.93.

International Petroleum (TSE:IPCO) last posted its quarterly earnings results on Tuesday, May 5th. The company reported C$0.15 EPS for the quarter. International Petroleum had a return on equity of 2.73% and a net margin of 3.51%.The company had revenue of C$240.53 million for the quarter. Research analysts predict that International Petroleum Co. will post 0.1677866 EPS for the current 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.