International Petroleum (TSE:IPCO) Hits New 52-Week High – Here’s What Happened

Shares of International Petroleum Co. (TSE:IPCO) reached a new 52-week high on Thursday . The company traded as high as C$33.72 and last traded at C$33.64, with a volume of 83111 shares. The stock had previously closed at C$33.00.

Analyst Upgrades and Downgrades

IPCO has been the subject of several recent research reports. Scotiabank boosted their price objective 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. Royal Bank Of Canada upped their target price on shares of International Petroleum from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$26.50.

International Petroleum Stock Up 1.3%

The stock has a market capitalization of C$3.75 billion, a price-to-earnings ratio of 133.76 and a beta of 0.83. The company has a debt-to-equity ratio of 52.52, a quick ratio of 3.93 and a current ratio of 0.81. The firm’s fifty day simple moving average is C$27.82 and its 200 day simple moving average is C$25.68.

International Petroleum (TSE:IPCO) last issued its quarterly earnings data on Tuesday, February 10th. The company reported C($0.05) earnings per share (EPS) for the quarter. The company had revenue of C$231.73 million for the quarter. International Petroleum had a return on equity of 3.12% and a net margin of 3.90%. On average, sell-side analysts forecast that International Petroleum Co. will post 0.1677866 earnings per share for the current year.

Insider Buying and Selling at International Petroleum

In other news, Director William A.W. Lundin acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average cost of C$24.26 per share, for a total transaction of C$485,200.00. Following the completion of the acquisition, the director owned 822,202 shares in the company, valued at C$19,946,620.52. This represents a 2.49% increase in their ownership of the stock. 35.60% of the stock is owned by corporate insiders.

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.