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

International Petroleum Co. (TSE:IPCO)’s stock price reached a new 52-week high on Tuesday . The company traded as high as C$29.06 and last traded at C$28.78, with a volume of 56908 shares. The stock had previously closed at C$27.97.

Analysts Set New Price Targets

Separately, Scotiabank raised 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 research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, International Petroleum has a consensus rating of “Hold” and an average target price of C$26.00.

International Petroleum Price Performance

The company has a market cap of C$3.26 billion, a PE ratio of 100.21 and a beta of 0.83. The company has a debt-to-equity ratio of 47.72, a current ratio of 1.92 and a quick ratio of 3.93. The stock’s 50-day moving average is C$25.99 and its 200 day moving average is C$24.71.

International Petroleum (TSE:IPCO) last issued its quarterly earnings results on Tuesday, November 4th. The company reported C$0.03 earnings per share for the quarter. The business had revenue of C$239.91 million during the quarter. International Petroleum had a return on equity of 10.18% and a net margin of 11.23%. On average, equities analysts anticipate that International Petroleum Co. will post 0.1677866 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William A.W. Lundin bought 20,000 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was purchased at an average cost of C$24.26 per share, with a total value of C$485,200.00. Following the acquisition, the director directly owned 822,202 shares in the company, valued at C$19,946,620.52. This trade represents a 2.49% increase in their ownership of the stock. 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.