International Petroleum (TSE:IPCO) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

International Petroleum Co. (TSE:IPCO) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$31.80 and traded as low as C$31.80. International Petroleum shares last traded at C$32.04, with a volume of 87,574 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IPCO shares. 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. Scotiabank set a C$38.00 price target on shares of International Petroleum and gave the stock a “sector outperform” rating in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$38.25.

International Petroleum Stock Performance

The company has a debt-to-equity ratio of 56.91, a current ratio of 0.97 and a quick ratio of 3.93. The firm has a market capitalization of C$3.66 billion, a PE ratio of 170.68 and a beta of 0.09. The firm has a fifty day moving average price of C$31.75 and a 200 day moving average price of C$33.47.

International Petroleum (TSE:IPCO) last issued its quarterly earnings results on Tuesday, August 4th. The company reported C$0.13 earnings per share for the quarter. The firm had revenue of C$263.89 million for the quarter. International Petroleum had a return on equity of 2.33% and a net margin of 2.81%. Research analysts anticipate that International Petroleum Co. will post 0.1677866 earnings per share for the current fiscal year.

Insider Buying and Selling at International Petroleum

In other news, Director William A.W. Lundin bought 33,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were acquired at an average cost of C$30.69 per share, with a total value of C$1,012,770.00. Following the completion of the transaction, the director directly owned 624,012 shares in the company, valued at approximately C$19,150,928.28. The trade was a 5.58% increase in their position. 35.60% of the stock is currently owned by company insiders.

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.