Scotiabank Reiterates “C$38.00” Price Target for International Petroleum (TSE:IPCO)

Scotiabank set a C$38.00 price objective on International Petroleum (TSE:IPCO) in a research note released on Friday,BayStreet.CA reports. The brokerage currently has a sector outperform rating on the stock.

Several other research analysts have also recently weighed in on IPCO. National Bank Financial set a C$45.00 price target on shares of International Petroleum and gave the stock a “sector perform” rating in a report on Monday, May 4th. BMO Capital Markets upgraded shares of International Petroleum from a “market perform” rating to an “outperform” rating and set a C$43.00 price objective for the company in a research note on Tuesday, April 7th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$38.25.

International Petroleum Price Performance

Shares of TSE:IPCO opened at C$31.00 on Friday. The company has a current ratio of 0.79, a quick ratio of 3.93 and a debt-to-equity ratio of 58.61. The stock has a market cap of C$3.50 billion, a PE ratio of 140.91 and a beta of 0.12. The stock’s fifty day simple moving average is C$33.97 and its two-hundred day simple moving average is C$32.67. International Petroleum has a 1-year low of C$20.74 and a 1-year high of C$39.47.

International Petroleum (TSE:IPCO) last posted its earnings results on Tuesday, May 5th. The company reported C$0.15 earnings per share (EPS) for the quarter. The firm had revenue of C$240.53 million during the quarter. International Petroleum had a net margin of 3.51% and a return on equity of 2.73%. As a group, analysts forecast that International Petroleum 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.