International Petroleum (TSE:IPCO) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

International Petroleum (TSE:IPCO) had its target price raised by analysts at Royal Bank Of Canada from C$25.00 to C$27.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential downside of 11.88% from the company’s current price.

Separately, Scotiabank upped their price target on International Petroleum from C$24.00 to C$26.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$26.50.

International Petroleum Price Performance

Shares of TSE:IPCO traded up C$0.76 on Wednesday, reaching C$30.64. 77,908 shares of the company were exchanged, compared to its average volume of 173,196. The company has a 50-day moving average of C$26.20 and a 200-day moving average of C$24.89. The company has a current ratio of 1.92, a quick ratio of 3.93 and a debt-to-equity ratio of 47.72. The firm has a market cap of C$3.44 billion, a price-to-earnings ratio of 105.66 and a beta of 0.83. International Petroleum has a 1-year low of C$16.32 and a 1-year high of C$30.80.

International Petroleum (TSE:IPCO) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C($0.05) EPS for the quarter. International Petroleum had a net margin of 11.23% and a return on equity of 10.18%. The company had revenue of C$231.73 million during the quarter. Equities analysts forecast that International Petroleum will post 0.1677866 earnings per share for the current fiscal year.

Insider Buying and Selling at International Petroleum

In related news, Director William A.W. Lundin acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average cost of C$24.26 per share, for a total transaction of C$485,200.00. Following the transaction, the director directly owned 822,202 shares of the company’s stock, valued at approximately C$19,946,620.52. This trade represents a 2.49% 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.