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

Shares of International Petroleum Co. (TSE:IPCO) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$31.48 and last traded at C$31.16, with a volume of 24124 shares trading hands. The stock had previously closed at C$30.90.

Analyst Ratings Changes

Several analysts have recently issued reports on IPCO shares. Royal Bank Of Canada increased their price objective on International Petroleum from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 11th. Scotiabank increased their target price on shares of International Petroleum from C$24.00 to C$26.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, International Petroleum presently has an average rating of “Hold” and a consensus target price of C$26.50.

International Petroleum Stock Up 0.9%

The company has a market capitalization of C$3.50 billion, a price-to-earnings ratio of 124.68 and a beta of 0.83. 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’s 50 day simple moving average is C$27.19 and its 200-day simple moving average is C$25.44.

International Petroleum (TSE:IPCO) last issued its earnings results on Tuesday, February 10th. The company reported C($0.05) earnings per share for the quarter. International Petroleum had a net margin of 11.23% and a return on equity of 10.18%. The firm had revenue of C$231.73 million during the quarter. On average, sell-side analysts anticipate that International Petroleum Co. will post 0.1677866 EPS for the current fiscal year.

Insider Activity

In related news, Director William A.W. Lundin acquired 20,000 shares of International Petroleum stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average price of C$24.26 per share, for a total transaction of C$485,200.00. Following the completion of the purchase, 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 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.